Mathematics, 16.04.2021 18:10 venny23

Victor expects his gross income to be $38,000 this year, but Social Security, Medicare, federal income tax, and state income tax will be deducted from his pay. Victor lives in Illinois,
which has a flat state income tax of 3%, and he expects that 14% of his gross income will be
withheld for federal income tax. He wants to calculate his projected take-home pay for the year.
(5 points: Part 1 - 1 point; Part II - 1 point; Part III - 1 point; Part IV - 1 point; Part V- 1 point)
Part 1: How much of Victor's gross income will be taken out for Social Security?

Answers: 3

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Victor expects his gross income to be $38,000 this year, but Social Security, Medicare, federal inc...