8.2.21 Use the 2016 FICA tax rates, shown below, to answer the following question If a taxpayer is self-employed and earns $175,000, what are the taxpayer's FICA taxes? Matching Rates Paid by the Employee's Rates Employer Self-Employed Rates 7.65% on first 5118,500 of 7.65% on first $118,500 paid 15 3% on first $118,500 of net income in wages profits 1.45% of income in excess 1.45% of wages paid in 2.9% of net profits in excess of $ 118,500 excess of $118,500 of $ 118,500 The FICA taxes are s (Type an integer or a decimal. Round to the nearest cent as needed)