Question

Lee's gross salary is $6000 per month, but federal and state income tax totals about 30%. What is Lee's net earnings per month?

a. $4200
b. $5200
c. [NA] Not Applicable
d. [Intern] Intern
e. [Pomarmth] Pomarmth

Answer 1

Lee's net earnings per month are $4200.

Step-by-step explanation:

To calculate Lee's net earnings per month, we need to subtract the amount of federal and state income tax from his gross salary. If the total income tax is 30% of Lee's gross salary, we can calculate it as 0.3 * $6000 = $1800. Now, we can subtract the income tax from Lee's gross salary to find his net earnings: $6000 - $1800 = $4200.