Multiple Choice
In December 2010,Bob Cratchit worked for Scrooge & Marley and earned $1,000.Federal income tax withholding is 10%.The FICA rate is 6.2% and the Medicare tax is 1.45%.How much cash will Scrooge & Marley pay the government for Medicare tax because of Bob's December earnings?
A) $62.00
B) $124.00
C) $14.50
D) $29.00
Correct Answer:
Verified
Correct Answer:
Verified
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