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DerKrebs [107]
3 years ago
9

A high school student working part-time as a cashier had a gross income of $6727 last year. If his federal tax rate was 10% and

his state tax rate was 4.3%, what was the amount withheld from his pay last year in federal tax, state tax, and FICA combined?
Business
1 answer:
8_murik_8 [283]3 years ago
3 0

Federal tax rate = 10%

State tax rate = 4.3%

Social security = 6.2%

Medicare = 1.45%

Total deductions = 21.95%

Amount withheld = 21.95%*6727 = $1476.58

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Answer:

Subordinated bonds, also known as subordinated debts, is an unsecured loan or bond that ranks below other, more senior loans or securities with the respect to claims on assets or earnings. Generally, subordinated bonds are debts that can be added to preferred stocks. Preferred stocks can be viewed as long- term investments, but are generally more risky because they are more sensitive to interest- rate risk if the rates rise. If they rise, then the price of the preferred stocks may fall and can fall lower than the price of short- term bonds. The difference between subordinated bonds and senior bonds is the priority in which the debt claims are paid. If one has to file bankruptcy or face liquidation, senior debts is paid back before the subordinate debt. Once the senior debt is completely paid back, then the subordinate debt starts being repaid.

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Answer:

$61,500

Explanation:

Based on the information given if the company

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3 years ago
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Answer:

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The Answer is D.

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