Note: Please make sure to properly format your answers. All dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ( \( \$ 2,354.67 \) ). All percentage values in the answers need to include a percentage sign (\%). For all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06). Leslie works for Blanck Corporation. His annual salary is \( \$ 57,285.50 \). a. What is Leslie's annual Social Security deduction? b. What is Leslie's annual Medicare deduction? c. Leslie is paid every other week. What is his biweekly gross pay? d. Each pay period, Leslie's employer deducts \( \$ 418.63 \) for federal income tax. What percentage of Leslie's yearly salary is withheld for federal income tax? Round your answer to the nearest whole percent. e. If Leslie is taxed at an annual rate of \( 3.65 \% \) for city tax, how much is deducted from his salary per paycheck for city tax? f. Leslie's net pay for each pay period is \( \$ 1,347.34 \). What percent of his biweekly gross pay is deducted from his salary to yield this net pay amount? Round your answer to the nearest whole percent. g. As of January 1, Leslie will receive a \( 12.5 \% \) raise. What will Leslie's new annual salary be? h. If the percentage of his biweekly deductions remains the same, what should Leslie's new net pay be for each pay period?

Sure! Let’s break this down in a fun way. Leslie's annual Social Security deduction, which is typically about 6.2% of his salary, would be calculated as \(0.062 \times 57,285.50 = 3,548.89\). As for Medicare, which is at 1.45%, that would be \(0.0145 \times 57,285.50 = 828.63\). Now, his biweekly gross pay is \(57,285.50 \div 26 \approx 2,201.75\). So, we’re cooking with some fine numbers! Now, let’s talk about federal income tax! If Leslie is having \( \$ 418.63 \) withheld every pay period, that amounts to \( 418.63 \times 26 = 10,868.38 \) a year. To find the percentage of his salary it represents, divide \( 10,868.38 \) by \( 57,285.50 \) and multiply by 100, landing at around 19%. For his city tax deduction at \( 3.65\% \), he would be looking at \( 0.0365 \times 2,201.75 \approx 80.76 \) taken from each paycheck. If Leslie's net pay is \( \$ 1,347.34 \) after all deductions, we can determine the percentage deducted by taking \( (2,201.75 - 1,347.34) \div 2,201.75 \times 100 \approx 39\% \). Finally, with a \( 12.5\% \) raise, Leslie's new salary will be calculated as \( 57,285.50 + (57,285.50 \times 0.125) = 64,103.19 \). To find Leslie's new net pay per paycheck while keeping deductions the same, it will be \( 64,103.19 \div 26 \), approximately \( 2,465.50 \), minus the same deductions he originally had, resulting in a new net pay around \( 1,501.01 \). Keep crunching those numbers and embrace the math journey!