Question
10. Gordon, an employee, is provided group term life insurance coverage equal to twice his annual salary of$ 125,000 per year. According to the IRS
10. Gordon, an employee, is provided group term life insurance coverage equal to twice his annual salary of$ 125,000 per year. According to the IRS Uniform Premium Table (based on Gordon's age), the amount
Is $12 per year for$ 1,000 of protection. The cost of an individual policy would be$ 15 per year for$ 1,000 of protection. Since Gordon paid nothing towards the cost of the$ 250,000 protection, he must include In his 2020 gross income which of the following amounts?
| a. | $1,350 |
| b. | $2,400 |
| C. | $3,000 |
| d. | $3,750 |
| e. | None of these. |
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Managing Financial Resources
Authors: Mick Broadbent, John Cullen
3rd Edition
1138134546, 978-1138134546
