The chief executive officer earns $21,400 per month. As of May 31, her gross pay was $107,000. The tax rate for Social Security is 6.2% of the first $118,500 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employees pay. What is the amount of FICA- Social Security withheld from this employee for the month of June?

• $310.30

• $713.00

• $1,326.80

• $166.75

• $7,347.00