Each pay period, Turner's taxable income is $800.13. If his federal income tax rate is 14%, then how much money does he pay each pay period in federal income taxes? A. $120.02 B. $113.02 C. $112.02 D. $114.02
To calculate how much money Turner pays in federal income taxes each pay period, we first need to determine his taxable income.
Turner's taxable income is $800.13.
Next, we need to calculate his federal income tax amount by multiplying his taxable income by his federal income tax rate:
$800.13 x 0.14 = $112.02
Therefore, Turner pays $112.02 each pay period in federal income taxes.
The correct answer is C. $112.02.