For all the problems on this exam, use the following data:

Social Security rate $-6\mathrm{.}2\%$ on the first $$142,800$ of gross earnings

Medicare rate $-1\mathrm{.}45\%$

FUTA rate $-0\mathrm{.}6\%$ on the first $$7,000$ of gross earnings

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Don't forget, you must show ALL work$/$calculations to receive full credit!$$ Also, be sure to round to two decimal places after EVERY calculation.$$

Question $1(0\mathrm{.}001$ points$)$

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ETHICS STATEMENT:

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Due to the$$online$$nature of this exam, it's imperative that you follow all of the ethical guidelines surrounding$$online$$testing$.$By typing your full name into the Text Box, you are stating that you, "Will not use any outside help, notes, books, or the$$internet$$to help you with this exam."$$This is not a collaborative effort; it needs to be completed independently.