The FICA tax for social security is 6.2% and the FICA tax for Medicare is 1.45%.An employee's share of both FICA taxes was $3,901.50.Given that this employee did not exceed the FICA earnings limitation,compute gross pay.
A) $269,068.96
B) $62,927.42
C) $29,846.48
D) $51,000
E) Zero,since the employee's pay did not exceed the FICA limit
Correct Answer:
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