Check My Work vote:.Please make sure to properly format your answers. All dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ( 2,354.67) All percentage values in the answers need to include a percentage sig (% ). For all items without specific rounding instructions,round your answers to two decimal places, show both decimal places (5.06) Laurel's W-2 form reported total Medicare wages as 100,750 She contributed 30 per weekly paycheck to her FSA and 75 per weekly paycheck to her retirement plan. She received a 1099 form from her bank for her savings account interest in the amount of 690 and a 1099 form from an employer that she did some consulting work for in the amount of 2,600 What is Laurel's taxable income? square

To calculate Laurel's taxable income, we need to consider the following items:1. Total Medicare wages: 30 per week3. Retirement plan contribution: 6905. Consulting work income: 30Number of paychecks in a year = 52Total FSA contribution = FSA contribution per paycheck * Number of paychecks in a yearTotal FSA contribution = 1,560Step 2: Calculate the total retirement plan contribution for the year.Retirement plan contribution per paycheck = 75 * 52 = 100,750 - 3,900 - 2,600 = 92,100.