Magenta Company has four employees, and each employee earned $56,000 for the calendar year. Using a blank Form 940, complete Part 2, lines 3-8, to answer the following questions: i (Click the icon to view the questions.) (If a box is not used in the table leave the box empty; do not enter a zero. Round your calculations to the nearest cent as needed.) Part 2: Determine your FUTA tax before adjustments for 20XX. If any line does NOT apply, leave it blank. 3 Total payments to all employees 4 Payments exempt from FUTA tax.. 3 More info Total annual payroll for the year ? Check all that apply: 4a Fringe benefits Payments made in excess of $7,000 FUTA limit Total FUTA liability before any adjustments ? ? 4c Retirement/Pension 4e Other 4b Group-term life insurance 4d Dependent care 5 Total of payments made to each employee in excess of $7,000. 6 Subtotal (line 4 + line 5 = line 6). 7 Total taxable FUTA wages (line 3 - line 6 = line 7).. 8 FUTA tax before adjustments (line 7 x 0.006 = line 8). 5 6 7 8 Print Done