Question: Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicare tax. What are the social

Solve the following problem using 6.2%, up to $117,000, for social

Solve the following problem using 6.2%, up to $117,000, for social security tax and 1.45%, no wage limit, for Medicare tax. What are the social security and Medicare withholdings for an executive whose annual gross earnings are $126,750? Round to the nearest cent when necessary. Social security: $ Medicare: $

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