Use the following tax rates, ceiling and maximum taxes Employee and Employer OASDI 6 20 $132,900$8,239 80Employee and Employer HI 1 45 No limitNo maximumSelf employed OASDI 12 4 $132,900$16,479 60Self employed HI 2 9 No limitNo maximum Employee HI Plus an additional 0 9 on wages over $200,000 Also applicable to self employed Rounding Rules Unless instructed otherwise compute hourly rate and overtime rates as follows Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one half to determine the overtime rate) If the third decimal place is 5 or more, round to the next higher cent If the third decimal place is less than 5, drop the third decimal place Also, use the minimum hourly wage of $7 25 in solving these problems and all that follow Fess receives wages totaling $75,700 and has net earnings from self employment amounting to $61,300 In determining her taxable self employment income for the OASDI tax, how much of her net self employment earnings must Fess count

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Use the following tax rates, ceiling and maximum taxes:Employee and Employer OASDI:6.20%$132,900$8,239.80Employee* and Employer HI:1.45%No limitNo maximumSelf-employed OASDI:12.4%$132,900$16,479.60Self-employed HI:2.9%No limitNo maximum *Employee HI: Plus an

Use the following tax rates, ceiling and maximum taxes:Employee and Employer OASDI:6.20%$132,900$8,239.80Employee* and Employer HI:1.45%No limitNo maximumSelf-employed OASDI:12.4%$132,900$16,479.60Self-employed HI:2.9%No limitNo maximum

*Employee HI: Plus an additional 0.9% on wages over $200,000. Also applicable to self-employed.

Rounding Rules: Unless instructed otherwise compute hourly rate and overtime rates as follows:

Carry the hourly rate and the overtime rate to 3 decimal places and then round off to 2 decimal places (round the hourly rate to 2 decimal places before multiplying by one and one-half to determine the overtime rate).
If the third decimal place is 5 or more, round to the next higher cent.
If the third decimal place is less than 5, drop the third decimal place.

Also, use the minimum hourly wage of $7.25 in solving these problems and all that follow.

Fess receives wages totaling $75,700 and has net earnings from self-employment amounting to $61,300. In determining her taxable self-employment income for the OASDI tax, how much of her net self-employment earnings must Fess count?