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An employee earns $ 6 , 2 5 0 per month working for an employer. The Federal Insurance Contributions Act ( FICA ) tax rate

An employee earns $6,250 per month working for an employer. The Federal Insurance Contributions Act (FICA) tax rate for Social Security is 6.2% of the first $137,700 earned each calendar year and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings. The current Federal Unemployment Taxes (FUTA) tax rate is 0.6%, and the State Unemployment Taxes (SUTA) tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee h in federal income taxes withheld. The employee has voluntary deductions for health insurance of $180 and contributes $90 to retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermed calculations to two decimal places.)

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