Exercise 11.3 (Algo) Computing employer's payroll taxes. LO 11-2, 11-6 At the end of the weekly payroll period on June 30, the payroll register of Cate's Corner showed employee earnings of $71,500. Determine the firm's payroll taxes for the period. Use a social security rate of 6.2 percent, Medicare rate of 1.45 percent, FUTA rate of 0.6 percent, and SUTA rate of 5.4 percent. Consider alf earnings subject to sociaf security tax and Medicare tax and $41,198 subject to FUTA and SUTA taxes. Note: Round your answers to 2 decimal places. Exercise 11.3 (Algo) Computing employer's payroll taxes. LO 11-2, 11-6 At the end of the weekly payroll period on June 30, the payroll register of Cate's Corner showed employee earnings of $71,500. Determine the firm's payroll taxes for the period. Use a social security rate of 6.2 percent, Medicare rate of 1.45 percent, FUTA rate of 0.6 percent, and SUTA rate of 5.4 percent. Consider alf earnings subject to sociaf security tax and Medicare tax and $41,198 subject to FUTA and SUTA taxes. Note: Round your answers to 2 decimal places