Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $5,000 for her...
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Accounting
Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $5,000 for her stellar work. Her boss wants Vicky to receive $5,000 on the check. She contributes 3 percent of her pay in a pre-tax deduction to her 401(k). Required: Calculate the gross pay amount that would result in $5,000 paid to Vicky. (The tax rate on bonuses is 22 percent. Social Security (6.2%) and Medicare taxes (1.45%) must be added to this rate.) (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
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