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  3. an employee earned $46,800 during the year working

An employee earned $46,800 during the year working for an employer when the maximum limit...

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Accounting

An employee earned $46,800 during the year working for an employer when the maximum limit for Social Security was $128,400. The FICA tax rate for Social Security is 6.2% and the FICA tax rate for Medicare is 1.45%. The employee's annual FICA taxes amount is:

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