Mary earned $49,258.75 for the past calendar year. How much did she pay for the year in social security and Medicare taxes? (Social Security Tax is 6.2% of gross wages upto $128,400. Medicare Tax is 1.45% of all gross wages.)O $3,462.29O $3,615.29O $3,768.29O $4,150.79

Introduction: Social Security Taxes-Taxes under the Federal Insurance Contributions Act are composed…

Answered: Mary earned $49,258.75 for the past…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Mary earned $49,258.75 for the past calendar year. How much did she pay for the year in social security and Medicare taxes? (Social Security Tax is 6.2% of gross wages up to $128,400. Medicare Tax is 1.45% of all gross wages.) O $3,462.29 O $3,615.29 O $3,768.29 O$4,150.79