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Federal Income Tax Withholding Bob Wolfe's weekly gross earnings for the present week were $2,410....

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Accounting

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Federal Income Tax Withholding Bob Wolfe's weekly gross earnings for the present week were $2,410. Wolfe has two exemptions. Using the wage bracket withholding table in Exhibit 2 with a $75 standard withholding allowance for each exemption, what is Wolfe's federal income tax withholding? Round your answer to two decimal places. 5 EXHIBIT 2 Wage Bracket Withholding Table Table for Percentage Method of Withholding WEEKLY Payroll Period (a) SINGLE person (including head of household)- If the amount of wages (after subtracting withholding allowances) The amount of income tax is: to withhold is: Not over $43. .SO Over But not over- of excess over- $43 - $222.. $0.00 plus 10% $43 $222 --- $767... $17.90 plus 15% $222 $767 -$1.796 $99.65 plus 25% S767 $1,796 -$8,700 $356.90 plus 28% $1,796 $3,700 -$7,992 $890.02 plus 33% $3,700 $7,992 -$8,025 $2,306,38 plus 35% $7,992 $8,025 $2,317.93 plus 39.6% $8,025 McGrath wage bracket

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