Employee and Employer OASDI: Employee and Employer HI: Self-employed OASDI: Self-employed HI: 6.20% 1.45% 12.4% 2.9% $127,200 No limit $127.200 No limit $7,886.40 No maximum $15,772.80 No maximum 1. Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the over- time rate). 2. If the third decimal place is 5 or more, round to the next higher cent. 3. If the third decimal place is less than 5, simply drop the third decimal place. Examples: Monthly rate $1,827 Weekly rate ($1,827 x 12)/52- $421.615 rounded to $421.62 Hourly rate $421.62/40- $10.540 rounded to $10.54 .. rate $10.54 x 1.5-$15.81 Also, use the minimum hourty wage of $7.25 in solving these problems and all that follow. "Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed Example 3-1 During 2018, Rachael Parkins, president of Mathieson Company, was paid a semimonthly salary of $7,900. Compute the amount of FICA taxes that should be withheld from her. If an amount is zero, enter "0 OASDI HI 489.80 V -114.55- a. 9th paycheck b. 17th paycheck c. 24th paycheck d. If Rachael Parkin's year-to-date earnings as of her 24th pavcheck are $189,600, and her year-end bonus is $100,000, how much is the additional 0.9% HI tax withheld