Exercise 11.5 (Algo) Computing SUTA tax. LO 11-6 On April 30, Chung Furniture Company prepared its state unemployment tax return for the first quarter of the year. The firm had taxable wages of $100,350. Because of a favorable experience rating, Chung pays SUTA tax at a rate of 1.4 percent. How much SUTA tax did the firm owe for the quarter? (Round "SUTA tax rate" answer to 3 decimal places. i.e., 12.3% should be entered as 0.123.) Taxable wages SUTA tax rate SUTA tax amount