Calculate the social security and medicare tax that would be applied to an annual salary of $56,010. a. social security tax: $347.26, medicare tax: $81.22 b. social security tax: $3,472.62, medicare tax: $812.15 c. social security tax: $662.16, medicare tax: $81.22 d. social security tax: $6,621.60, medicare tax: $812.15

The social security tax is currently 6.2% and the medicare tax is 1.45 % of ones net salary. These taxes fall under the FICA or The Federal Insurance Contributions Act.

Now we have been given the annual salary is = $56010

So, Social security tax will be = = $3472.62

And medicare tax will be = = $812.145 ≈$812.15

Hence, option B is the correct answer. (Social Security tax: $3,472.62, Medicare tax: $812.15)

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step-by-step explanation:

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step-by-step explanation:

we need to solve for 'x' the following equation:  

we have that:

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factorizing, we get that:

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then, the solutions are: or

nothing extraneous has been found!