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Joe's group-term life insurance, valued at $25, is imputed into his gross salary of $725....

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Accounting

Joe's group-term life insurance, valued at $25, is imputed into his gross salary of $725. Joe's employer elects to not withold FIT from this benefit. Assuming FICA of 7.65% and FITW of 15%, what is his net pay?

a. $555.43 b. $583.88 c. $558.88 d. $555.13

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