Thomas Longbow is the only employee of Presido, Inc. During the first week of January, Longbow earned $2000.00 and had federal and state income tax withholdings of $100.00 and $37.50, respectively. FICA taxes are 7.65% on earnings up to $117,000. State and federal unemployment taxes for the period are $125.00 and $20.00, respectively. What is Presido's payroll tax expense for the week? Select one: A. $588.50 B. $298.00 C. $435.50 D. $282.50
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