Michael Miller is paid twice a month and had total gross earnings as of 10/15 of $127,000. His gross earnings for the period ending 10/31 were $6,000. If social security taxes are 6.2% on a maximum earnings threshold of $132,900 per year and Medicare tax is 1.45% on all earnings, how much Medicare tax will be paid by Michael and how much will be paid by his employer for the period ending 10/31 ? Multiple Choice Michael will pay $87.00 and his employer will also pay $87.00. Michael will pay $87.00 and his employer is not required to pay any social security tax. Michael will pay $24.65 and his employer will also pay $24.65. Michael will pay $24.65 and his employer will pay $87.00