An employee earns $6.450 per month working for an employer The FICA tax rate for Social Security is 6.2% of the first $128.400 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 employee's pay. The employee has $220 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $188 and contributes $94 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.) Multiple Choice $5,548.10 $5,402.97 $5,106.27 $5,454.57 $5,054.67