<span>The Federal Insurance Contributions Act (FICA) requires employers to withhold a certain percentage of an employee's income as tax. The categories are:
6.2% as social security tax
1.45% as Medicare tax
0.9% as Medicare surtax for employees earning more than $200,000
In this case, the percentage of tax applied will be 6.2 + 1.45 = 7.65%
The FICA tax will be 110,330 * 0.0765
FICA tax = $8,440.24</span>
Starting with the paints, we have 15$ as our base value. Next, since we add $24.50 for each new canvas bought, 24.5*x=the amount of money for x canvases. Therefore, since 15 is our base value, we have 15+24.5*6=162