Refer to the Following Table to Answer the Following Questions

question 70

Multiple Choice

Refer to the following table to answer the following questions:
-What is the value of M1?

• A) $13,500,000
• B) $46,500,000
• C) $47,500,000
• D) $57,500,000
• E) $64,500,000

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Definitions:

Social Security Tax

A payroll tax that funds the Social Security program, which provides benefits for retirees, disabled persons, and survivors.

Medicare Tax

A federal tax deducted from employees' wages and matched by employers to fund the Medicare program, providing health insurance for individuals over 65.

Unemployment Compensation Tax

A tax paid by employers based on the wages of their employees, used to fund the unemployment insurance program.

Social Security Tax

Mandatory contributions collected from employees and employers to fund the Social Security program, providing benefits for retirees, the disabled, and survivors.