jasmine has a gross pay of $754.80. by how much will jasmines gross pay be reduced if she has the following…

jasmine has a gross pay of $754.80. by how much will jasmines gross pay be reduced if she has the following items withheld? federal tax of $31 social security tax that is 6.2% of her gross pay medicare tax that is 1.45% of her gross pay state tax that is 18% of her federal tax a. $94.32 b. $192.83 c. $224.60 d. $323.11 please select the best answer from the choices provided

jasmine has a gross pay of $754.80. by how much will jasmines gross pay be reduced if she has the following items withheld? federal tax of $31 social security tax that is 6.2% of her gross pay medicare tax that is 1.45% of her gross pay state tax that is 18% of her federal tax a. $94.32 b. $192.83 c. $224.60 d. $323.11 please select the best answer from the choices provided

Answer

Explanation:

Step1: Calculate Social Security tax

$754.80\times6.2%=754.80\times0.062 = 46.7976$

Step2: Calculate Medicare tax

$754.80\times1.45%=754.80\times0.0145 = 10.9446$

Step3: Calculate state tax

$31\times18%=31\times0.18 = 5.58$

Step4: Calculate total reduction

$31 + 46.7976+10.9446 + 5.58=94.3222\approx94.32$

Answer:

A. $94.32$