Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of $8,

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Portia Grant is an employee who is paid monthly. For the month
of January of the current year, she earned a total of $8,438. The
Federal Insurance Contributions Act (FICA) tax for social security
is 6.2% of the first $137,700 of employee earnings each calendar
year and the Federal Insurance Contributions Act (FICA) tax rate
for Medicare is 1.45% of all earnings. The Federal Unemployment
Taxes (FUTA) tax rate of 0.6% and the State Unemployment Taxes
(SUTA) tax rate of 5.4% are applied to the first $7,000 of an
employee's pay. The amount of federal income tax withheld from her
earnings was $1,400.07. Her net pay for the month
is: (Round your intermediate calculations to two
decimal places.)
$6,336.42
$6,514.77
$6,392.42
$5,958.42
$7,283.59