Bill Is an Exempt Employee Whose Annual Pay Is $53,600

question 68

Multiple Choice

Bill is an exempt employee whose annual pay is $53,600 for 37.5 hours per week. During a two-week period, company employees were given a two-day holiday. What is Bill's regular pay and holiday pay for the period? (Do not round interim calculations. Round final answer to 2 decimal places.)

• A) $1,649.23; $412.31
• B) $1,785.67; $602.38
• C) $1,630.77; $615.48
• D) $1,529.74; $603.92

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Definitions:

Held-to-Maturity Securities

Financial assets purchased with the intention of holding them until they mature; commonly bonds or other debt securities.

Dividend Yield

The ratio of a company's annual dividend payments to its share price, representing the return on investment a shareholder receives from dividends alone.

Preferred Stock

A type of stock that gives shareholders preference over common stockholders in the distribution of dividends and assets upon liquidation.

Common Stock

Equity securities representing ownership in a corporation, providing voting rights and sharing in the profits through dividends.