Computing net pay
Phildell Phoenix is paid monthly. For the month of January of the current year, he earned gross pay of $8,288. FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%. The amount of federal income tax withheld from his earnings was $1,375.17. Phildell contributes $125 of his monthly pay to a retirement plan and has $25 of union dues deducted from his monthly pay. Compute Phildell’s net pay for the month.
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