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George Clausen (age 48) is employed by Kline Company and is paid a salary of $42,640. He has decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Clausen:

What would be his weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% state income tax on total wages)?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9441015

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