An employee earns $5,850 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $128,400 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $196 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $164 and contributes $82 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.)

Multiple Choice

• $4,913.67

• $4,960.47

• $5,045.30

• $4,597.77

• $4,644.57