How much does Eric pay in income and Social Security taxes?

To determine how much Eric pays in income and Social Security taxes, it's important to understand the components of these tax liabilities.

Income tax is typically calculated based on taxable income, which may include various deductions and credits that reduce the overall tax burden. Social Security tax, on the other hand, is generally a flat rate applied to earned income, up to a certain wage base limit set by the IRS. For most individuals, the Social Security tax rate is 6.2% and is applied to earnings up to a specified limit, in addition to a Medicare tax of 1.45% on all income levels.

The answer provided likely reflects a calculated total that combines both the income tax liability and the Social Security tax liability. By thorough calculations, Eric's total tax burden may align with the outlined amount, considering his income level, applicable deductions, and the current tax rates for both income and Social Security.

The other options, while they are plausible amounts for tax obligations, do not match the calculated total that results from applying the correct tax rates and deductions applicable to Eric's earnings. Therefore, the total of $29,233 accurately reflects the resulting tally of Eric's income and Social Security taxes based on the given tax structure.