6 Multiple Choice 1 point Ramiro got his first job in 2006, In that year, Social Security taxwas 6.2% income up to 94,200. Medicare e taxwas 1.45% If Ramiro earned 73,010 in 2006, how much did he pay for Social Security and Medicare taxes? 7621.57 6521.27 5585.27 4000.00

To calculate the amount Ramiro paid for Social Security and Medicare taxes, we need to calculate the Social Security tax and the Medicare tax separately and then add them together.<br /><br />Step 1: Calculate the Social Security tax<br />The Social Security tax rate is 6.2% for income up to $94,200. Since Ramiro earned $73,010 in 2006, which is less than $94,200, we can calculate the Social Security tax as follows:<br /><br />Social Security tax = 6.2% of $73,010<br />Social Security tax = 0.062 * $73,010<br />Social Security tax = $4,540.12<br /><br />Step 2: Calculate the Medicare tax<br />The Medicare tax rate is 1.45% for all income. We can calculate the Medicare tax as follows:<br /><br />Medicare tax = 1.45% of $73,010<br />Medicare tax = 0.0145 * $73,010<br />Medicare tax = $1,061.45<br /><br />Step 3: Add the Social Security tax and the Medicare tax<br />Total tax paid = Social Security tax + Medicare tax<br />Total tax paid = $4,540.12 + $1,061.45<br />Total tax paid = $5,601.57<br /><br />Therefore, Ramiro paid $5,601.57 for Social Security and Medicare taxes in 2006.