Lloyd Corp. calculates its payroll for August 15, 2020. Wages due are $146,000. All of those wages are subject to the 7.65% FICA rate. Lloyd's federal unemployment tax rate is 0.8%, after state credits. $4,000 of wages from the August 15 payroll are subject to the federal unemployment tax. Lloyd's state unemployment rate, after credits for a stable employment history, is 2.4%. $3,000 of the wages are subject to the state unemployment tax. Federal withholding is $25,000 and state withholding is $6,200.

Compute Lloyd's payroll expense for the August 15 payroll.