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Business, 20.02.2020 22:15 nastja

George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,640. He has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:a. What is the maximum that he can contribute into this retirement fund? b. What would be the company's contribution? c. What would be his weekly take-home pay if he contributes the maximum allowed retirement contribution (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)? d. What would be his weekly take-home pay without the retirement contribution deduction?

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George Clausen (age 48) is employed by Kline Company and is paid an annual salary of $42,640. He has...
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