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Your PTI is $160,000 and your effective PTI is $148,000 for the year of 2020. The social security tax rate for the year 2020 is

Your PTI is $160,000 and your effective PTI is $148,000 for the year of 2020. The social security tax rate for the year 2020 is 6.2% with a wage cap of $137,000. The medicare tax rate is 1.45%. How much will the IRS receive in Payroll taxes for your employment?

a) 22644

b) 10683.4

c) 21366.80

d) 11,322

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