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what is the correct answer? An employee earns $5,800 per month working for an employer. The FICA tax rate for Social Security is 6.2% of
what is the correct answer? An employee earns $5,800 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 RICA tax rate for Medicare is 145% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 54%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $194 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $162 and contributes $81 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 $5,003.40 $4,559.70 $4,606.10 $4,872.90 $4,919.30 Prey 47 of So
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