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Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,688. FICA tax

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Gary Marks is paid on a monthly basis. For the month of January of the current year, he earned a total of $8,688. FICA tax for Social Security is 6.2% on the first $127.200 of earnings each calendar year and the FICA tax for Medicare is 1.45% of all earnings. The FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The amount of Federal Income Tax withheld from his earnings was $1.441.57. What is the amount of the employer's payroll taxes expenses for this employee? (Round your intermediate calculations to two decimal places.) Multiple Choice $2,627.49 $2,575.36 $1,084,64 O $1,185.92 $2,627.49 $2,575.36 $1,084.64 $1,185.92 $420.00

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