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An employee earns $5,950 per month working for an employer. The FICA tax rate for...

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An employee earns $5,950 per month working for an employer. The FICA tax rate for Social Security is 6.2% of the first $132,900 earned each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The current FUTA tax rate is 0.6%, and the SUTA tax rate is 5.4%. Both unemployment taxes are applied to the first $7,000 of an employee's pay. The employee has $200 in federal income taxes withheld. The employee has voluntary deductions for health insurance of $168 and contributes $84 to a retirement plan each month. What is the amount of net pay for the employee for the month of January? (Round your intermediate calculations to two decimal places.) Multiple Choice $4,721.52 $4,673.92 $5,129.10 Multiple Choice O $4,721.52 O $4,673.92 O $5,129.10 $4,995.22 O $5,042.82

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