What is the percent increase in the base

Reference no: EM13267077

The Social Security Administration increased the taxable wage base from $106,800 to $110,100. The 6.2% tax rate is unchanged. Joe Burns earned over $120,000 each of the past two years. (a) What is the percent increase in the base? Round to the nearest hundredth percent. (b) What is Joe's increase in Social Security tax for the new year?

Reference no: EM13267077

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