Timothy's gross pay for this month is $8,950.His gross year-to-date pay,prior to this month,totaled $112,000.What is the amount of FICA tax withheld from Timothy's pay for this month? (Assume an OASDI rate of 6.2%,applicable on the first $117,000 earnings,and a Medicare rate of 1.45%,applicable on all earnings. )
A) $310.00
B) $129.78
C) $439.78
D) $554.90
Correct Answer:
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