Kai is the president of Zebra Antiques. An employee, Reese Francis, is due a raise. Reese$$s current benefit analysis is as follows:

Yearly Benefit Costs Company Cost $($Current$)$ Employee Cost $($Current$)$

Medical insurance $ $6,100\mathrm{.}00$ $ $915\mathrm{.}00$

Dental insurance $130\mathrm{.}00130\mathrm{.}00$

Life insurance $312\mathrm{.}000$

AD&D $156\mathrm{.}000$

Short$-$term disability $62\mathrm{.}400$

Long$-$term disability $31\mathrm{.}200$

$401($k$)780\mathrm{.}001,560\mathrm{.}00$

Social Security $3,159\mathrm{.}213,159\mathrm{.}21$

Medicare $738\mathrm{.}85738\mathrm{.}85$

Tuition reimbursement $2,100\mathrm{.}000$

Total yearly benefit costs $($employer$)$ $ $13,569\mathrm{.}66$

Employee$$s annual salary $52,000\mathrm{.}00$

The total value of employee$$s compensation $ $65,569\mathrm{.}66$

Required:

Compute the benefit analysis assuming:

$3$ percent increase in pay.

Reese will increase the $401($k$)$ contribution to $8$ percent with a company match of $50$ percent up to $3$ percent contribution by the employer.

$15$ percent increase in medical and dental insurance premiums.

Compute both the employee and employers yearly benefit costs for both social security and medicare