Total Cost of Employee

B. F. Goodson employs Eduardo Gonzales at a salary of $47,800 a year. Goodson is subject to employer Social Security taxes at a rate of 6.2% and Medicare taxes at a rate of 1.45% on Gonzales's salary. In addition, Goodson must pay SUTA tax at a rate of 5.6% and FUTA tax at a rate of 0.6% on the first $7,000 of Gonzales's salary.

Compute the total cost to Goodson of employing Gonzales for the year. Round your answer to the nearest cent.