What is the yearly employee contribution to the U.S. Social Security tax on a salary of 40,000 $/year? A. $2480 C. $1160 FICA Taxes Social Security 12.4% Medicare 2.9% employer exployee employer employee 6.2% 6.2% 1.45% 1.45% B. $580 D. $4960

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Wich is the right answer I put C and it said it was wrong
What is the yearly employee contribution to the
U.S. Social Security tax on a salary of
40,000 $/year?
A. $2480
C. $1160
Social Security
12.4%
FICA Taxes
employer exployee
6.2%
6.2%
3-2023 International Academy of Science. All Rights Reserved.
FL
Medicare
2.9%
employer employee
1.45% 1.45%
B. $580
D. $4960
Transcribed Image Text:What is the yearly employee contribution to the U.S. Social Security tax on a salary of 40,000 $/year? A. $2480 C. $1160 Social Security 12.4% FICA Taxes employer exployee 6.2% 6.2% 3-2023 International Academy of Science. All Rights Reserved. FL Medicare 2.9% employer employee 1.45% 1.45% B. $580 D. $4960
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