Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare): (Leave no cells blank - be certain to enter "0" wherever required. Round your answers to the nearest cent.)

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Explanation:

Solutions:

Social Security = $0 this because he is over the $118,500 limit for social security tax

Medicare = 7,700*0.0145

=$111.65

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longer, make them feel important and reduce costs for hiring new employees.

explanation:

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