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You(or your parents) earn$53,698.00/yr and you have deductions of FICA(7.65%), federal tax withholding(11.5%), and state tax withholding(9%). How much is this allowed housing expense for the year?

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net income is 38582.01 for the year/12 = 3215.17(rounded) per month 
since rent/mortgage should not exceed 25% of income, that is about 800/month 

$10,802.96/ year

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