Ami doing the math right? Back pay with colas and pay bump from contract. Hypothetical

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So I have 4 years as a regular. hypothetically if my pay step gets a $4 increase between colas and pay raise. And it takes 2 years for the contract/back pay to kick in. Would my back pay be $10K?

40 hours x 52 weeks a year= 2080

2080 one years hours worked x 2 for the two years of back pay = 4160

4160 x hypothetical $4 owed in back pay per hour = $16,640

$16,640 - let’s say I get taxed 40% (guess) = $9984

Am I even close on this or way off? Kinda hoping to use this (unexpected) money as solid down payment for a new Toyota.

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Leebronjamess

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Posted: 4 months ago
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