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Palco Co., which has a taxable payroll of $1,200,000, is subject to FUTA tax of 6.2% and a state contribution rate of 5.4%. However, because

Palco Co., which has a taxable payroll of $1,200,000, is subject to FUTA tax of 6.2% and a state contribution rate of 5.4%. However, because of stable employment experience, the companys state rate has been reduced to 2%. What is the total amount of federal and state unemployment tax for Palco Co.?

a.$139,200

b.$98,400

c.$48,000

d.$33,600

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