Given a gross pay of $1,700 per pay period and a 25% tax bracket, what is the net pay and spendable income if $170 is saved after paying income tax on $1,700?
a) Net pay: $1,275; Spendable income: $1,105
b) Net pay: $1,275; Spendable income: $1,225
c) Net pay: $1,275; Spendable income: $1,495
d) Net pay: $1,505; Spendable income: $1,330
