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Maxwell McFarland's weekly gross earnings for the week ending December 18 were $880, and his...

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Accounting

Maxwell McFarland's weekly gross earnings for the week ending December 18 were $880, and his federal income tax withholding was $176. Prior to this week, McFarland had earned $99,500 for the year. Assuming the social security rate is 6% on the first $100,000 of annual earnings and Medicare is 1.5% of all earnings, what is McFarland's net pay? If required, round your answer to two decimal places.

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