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?

**a. Leslie's Annual Social Security Deduction** Leslie’s Social Security tax is calculated at \(6.2\%\). \[ \text{Social Security Deduction} = \$57,285.50 \times 0.062 = \$3,551.70 \] --- **b. Leslie's Annual Medicare Deduction** Medicare is taxed at \(1.45\%\). \[ \text{Medicare Deduction} = \$57,285.50 \times 0.0145 \approx \$830.64 \] --- **c. Leslie's Biweekly Gross Pay** Leslie is paid every other week, which means there are \(26\) pay periods in a year. \[ \text{Biweekly Gross Pay} = \frac{\$57,285.50}{26} \approx \$2,203.29 \] --- **d. Percentage of Annual Salary Withheld for Federal Income Tax** Each pay period, the federal income tax withheld is \(\$418.63\). First, compute the annual federal withholding: \[ \text{Annual Federal Withholding} = \$418.63 \times 26 \approx \$10,884.38 \] Next, determine the percentage of the annual salary: \[ \text{Percentage} = \left(\frac{\$10,884.38}{\$57,285.50}\right) \times 100 \approx 19\% \] --- **e. City Tax Deduction per Paycheck** The annual city tax is \(3.65\%\) of Leslie’s salary. 1. Calculate the annual city tax: \[ \text{Annual City Tax} = \$57,285.50 \times 0.0365 \approx \$2,090.92 \] 2. Then, determine the deduction per pay period: \[ \text{City Tax per Paycheck} = \frac{\$2,090.92}{26} \approx \$80.42 \] --- **f. Percentage of Biweekly Gross Pay Deducted** Leslie’s net pay per pay period is \(\$1,347.34\). The total deductions per pay period are: \[ \text{Total Deductions} = \$2,203.29 - \$1,347.34 = \$855.95 \] Now, find the deduction percentage: \[ \text{Deduction Percentage} = \left(\frac{\$855.95}{\$2,203.29}\right) \times 100 \approx 38.85\% \] Rounded to the nearest whole percent, this is \(39\%\). --- **g. Leslie's New Annual Salary After a \(12.5\%\) Raise** The new salary is calculated by increasing the current salary by \(12.5\%\): \[ \text{New Annual Salary} = \$57,285.50 \times (1 + 0.125) = \$57,285.50 \times 1.125 \approx \$64,446.19 \] --- **h. Leslie's New Net Pay per Pay Period** Assuming the same percentage of deductions, the net pay is \(61.15\%\) of the gross pay (since \(100\% - 38.85\% \approx 61.15\%\)). 1. First, compute the new biweekly gross pay: \[ \text{New Biweekly Gross Pay} = \frac{\$64,446.19}{26} \approx \$2,479.85 \] 2. Then, calculate the new net pay: \[ \text{New Net Pay} = \$2,479.85 \times 0.6115 \approx \$1,516.26 \]