1.Under the straight-line method, the amount of depreciation expense for the first full year of use of a fixed asset costing $95,000, with an estimated residual value of $5,000, and a useful life of 5 years, will be $18,000 True False 2. FICA tax is a payroll tax that is paid by both the employee and the employer. True False 3. FICA tax is a payroll tax that is paid only by employers. True False 4.The FICA tax withheld from employees contributes to: a. Federal and state unemployment compensation. b. Social Security and federal unemployment compensation. c. Medicare only. d. Social Security and Medicare