5. An employee, who is over the age of 18, under the age of 70, and is not in receipt of any CPP benefits, earns $2550.00 semi-monthly. So far this year, $3,011.30 in CPP contributions have been deducted from the employee's pay, and $870.24 has been deducted for EI. Calculate the CPP and EI contributions on his next pay.

cpp rate 5.45%

cpp annual basic exemption $3,500

maximum insurable earnings $56,300

premium rate 1.58%

Maximu m annual employee premium $889.54