Question: Correct! Using that same formula, answer the following: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage

Correct! Using that same formula, answer the following: Solve the problem using 6.2%, up to $128,400 for Social Security tax and using 1.45%, no wage limit, for Medicare tax. What are the social security and Medicare withholdings (in $) for an executive whose annual gross earnings are $131,500? Social Security $ Medicare $

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