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Calculate the gross pay amount

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Vicky Le, an employee of Sweet Shoppe Industries, receives a bonus of $4,000 for her stellar work. Her boss wants Vicky to receive $4,000 on the check. She contributes 3 percent of her pay in a pre-tax deduction to her 401(k).

Problem 1: Calculate the gross pay amount that would result in $4,000 paid to Vicky. (The tax rate on bonuses is 22 percent. Social Security (6.2%) and Medicare taxes (1.45%) must be added to this rate.)

Reference no: EM132819211

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