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Maxwell Inverness's weekly gross earnings for the week ending December 18 were $3,920, and his...

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Accounting

Maxwell Inverness's weekly gross earnings for the week ending December 18 were $3,920, and his federal income tax withholding was $823.2. Prior to this week, Inverness had earned $97,800 for the year. Assuming the social security rate is 6% on the first $100,000 of annual earnings and Medicare is 1.5% of all earnings, what is Inverness's net pay? If required, round your answer to two decimal places.

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