Create a formula to calculate these expected tax payments separately for Social Security and Medicare taxes for each individual employee and then use the SUM function to create separate totals for the expected Social Security and Medicare tax payments. Assume $($a$)$ a maximum contribution threshold in $2024$ of $$168,600$ for Social Security tax $(6\mathrm{.}2\%),$ and $($b$)$ all employees file as single taxpayers and that the Medicare tax on wages is $1\mathrm{.}45\%$ with no maximum$/$cap$.$ You do not need to calculate the $0\mathrm{.}9\%$ Additional Medicare Tax.