Conceptual Connection: If another employee can be hired for $60,000 per year, what would be the total cost of this employee to Blitzen? Do not round intermediate calculations and round your final answer to two decimal places.

Blitzen Marketing Research paid its weekly and monthly payroll on January 31. The following information is available about the payroll: Item Amount Monthly salaries Hourly wages $ 237,480 585,000 FICA: 6.20% Social Security (both employee and employer) Medicare (both employee and employer) Withholding for federal income taxes Federal unemployment taxes State unemployment taxes 1.45% $108,500 1,200 4,000 Blitzen will pay both the employer's taxes and the taxes withheld on April 15