Find the Social Security tax and Medicare tax on the annual gross income of a self-employed individual. For a self-employed person, the FICA rate is 12.4% and the Medicare rate is 2.9%. Round to the nearest cent if needed.John Rosar, framer, earned $34,503.87
A. $4,278.48, $1,000.61
B. $2,139.24, $1,000.61
C. $2,139.24, $500.31
D. $4,178.48, $900.61
Answer: A
Mathematics
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