Tom's Gross Pay for This Month Is $8,150

question 25

Multiple Choice

Tom's gross pay for this month is $8,150.His gross pay year-to-date,prior to this month totaled $101,000.Tom's rate for federal income tax is 24%.His voluntary deductions total $900.What is the amount of Tom's net pay?

• A) $4,816.22
• B) $5,716.00
• C) $4,670.52
• D) $4,290.65

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Definitions:

Trade Restrictions

Measures imposed by governments to regulate or limit international trade.

Tariff

A tax levied on goods imported into a country.

Imported Steel

Steel that is produced in one country and brought into another for use in manufacturing or construction.

Domestic Industry

Industries within a country’s borders that produce goods or services for the local economy.