1.

FUTA taxes represent a substantial cost burden to companies. This is particularly the case where mass layoffs are likely to increase the tax rate. Also, periodic increases to the taxable wage base also contribute to this burden. Assume that each employee listed in a particular row earns the same salary. For instance, if there are 100 employees and the average annual salary is $35,000, then, the annual salary for each employee in the row is $35,000. Assume that the taxable wage base is $65,975 and the FUTA tax rate is 11.6 percent prior to a massive layoff. On an annual basis, the employer contributed \$ under the Federal Unemployment Act (FUTA). Round your response to the nearest hundredths place