Computing employer taxes An employee earned \($62,500\) during the year working for an employer. The FICA tax for Social Security is 6.2% and the FICA tax for Medicare is 1.45%. The current FUTA tax rate is 0.8%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first \($7,000\) of an employee’s pay. What is the amount of total unemployment taxes the employer will pay for this employee?