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Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $5,040.
Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $5,040. The Federal Insurance Contributions Act (FICA) tax for social security is 62% of the first $137.700 earned each calendar year, and the Federal Insurance Contributions Act (FICA) tax rate for Medicare is 1.45% of all earnings for both the employee and the employer. The amount of federal income tax withheld from his earnings was $730.70. What is the total amount of taxes withheld from the Trey's earnings? Multiple Choice $1.501.52 $803.75 $1,043.06 $1,116.26 $730.70 4.
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