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Business, 20.04.2020 21:10 timmonskids6027

Suppose a college football coach makes a base salary of $2,400,000 a year ($200,000 per month). Employers are required to withhold a 6.2% Social Security tax up to a maximum base amount and a 1.45% Medicare tax with no maximum. Assuming the Social Security maximum base amount is $128,400, how much will be withheld during the year for the coach's Social Security and Medicare taxes?

a. $34,800.
b. $41,422.
c. $183,600.
d. None of these amounts is correct

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Suppose a college football coach makes a base salary of $2,400,000 a year ($200,000 per month). Empl...

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