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Use the 2012 FICA tax rates, shown below, to answer the following question If you are self-employed and earn $152,000, what are the FICA taxes?

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Use the 2012 FICA tax rates, shown below, to answer the following question If you are self-employed and earn $152,000, what are the FICA taxes? Employee's Rates 5 65% on first $110,000 Matching Rates Paid by the Employer 7.65% on first $1 10,000 paid 13.3% on first S110.000 of in wages 1.45% of wages paid in excess of $110,000 Self-Employed Rates of income net profits 2.9% of net profits in excess of $110,000 1.45% of income in excess of $110000 Your taxes are Type an integer or a decimal Round to the nearest cent as needed)

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