Question 19 • SNHS Financial Math - MA2007
Social Security tax is 6.2% of $56,010: $56,010 × 0.062 = $3,472.62. Medicare tax is 1.45%: $56,010 × 0.0145 = $812.145, which rounds to $812.15. The correct choice is Social Security tax: $3,472.62, Medicare tax: $812.15.
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