An employee earned $42,700 working for an employer in the current year. The current rate for FICA Social Security is 6.2% payable on earnings up to $128,400 maximum per year and the rate for FICA Medicare 1.45%. The employer's total FICA payroll tax for this employee is:

$3,266.55

Explanation: The employee's salary scale falls between $1 and $128,400 so the FICA tax rate for social security of 6.2% and Medicare of 1.45% applies to him.

Social security tax payable

$42,700 x 6.2% / 100 = $2,647.4

Medicare tax payable

$42,700 x 1.45% / 100 = $619.15

Total tax payable by the employee

$2647.4 + $619.15 = $3,266.55

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

answer; normative economics;