Julio is single with 1 withholding allowance.He earned $1,025.00 during the most recent semimonthly pay period.He needs to decide between contributing 3% and $30 to his 401(k) plan.If he chooses the method that results in the lowest taxable income,how much will be withheld for federal income tax (based on the following table) ? 
Definitions:
Self-Improvement
The pursuit of personal growth by improving one's abilities, knowledge, and qualities.
Grade Point Average
An educational scoring system that calculates the average of all grades obtained by a student, indicating their academic performance.
Break-Even Analysis
A financial calculation that determines the point at which revenue received equals the costs associated with receiving the revenue, thereby resulting in neither a profit nor a loss.
Contribution Margin
Contribution margin is a financial metric that represents the difference between a company's sales revenue and variable costs, used to assess the profitability of individual products or services.
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