Compute the biweekly FICA tax on a gross annual salary of $163851. Use the following information:
The Social Security tax rate is 6.2% on the first $127,200 in gross income earned. The Medicare tax rate is: 1.45% on the first $200,000 in gross income earned, and 2.35% on any amount in excess of $200,000. Round answer to the nearest dollar.