Michael Miller Had Total Gross Earnings as of 10/15 of $113,000.His

Multiple Choice

Michael Miller had total gross earnings as of 10/15 of $113,000.His gross earnings for the period ending 10/30 were $2,000.If social security taxes are 6.2% on a maximum earnings of $113,700 per year and Medicare tax is 1.45% on all earnings,how much social security tax will be paid by Michael and how much will be paid by his employer for the period ending 10/30?

A) Michael will pay $43.40 and his employer is not required to pay any social security tax.
B) Michael will pay $43.40 and his employer will also pay $43.40.
C) Michael will pay $124 and his employer will also pay $124.
D) Michael will pay $124 and his employer is not required to pay any social security tax.