In December 2011,B

question 198

Multiple Choice

In December 2011,B.Rich worked for Payless,Inc.and earned $10,000.Federal income tax withholding is 20%.The FICA rate is 6.2% and the Medicare tax is 1.45%.How much cash will Payless pay the government for FICA because of B.Rich's December earnings?

• A)$1,240
• B)$2,765
• C)$765
• D)$1,530

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Definitions:

George W. Bush

The 43rd President of the United States (2001-2009), known for his policies following the September 11 attacks and leading the country into wars in Afghanistan and Iraq.

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U.S. Border Patrol

A federal law enforcement agency of the United States Department of Homeland Security, tasked with monitoring and securing U.S. borders against illegal entry and trafficking.

Goldman Sachs

A leading global investment banking, securities, and investment management firm, known for its significant influence in financial markets.