#39. The UVW Union and HON Corporation are negotiating contract terms. Assume the union members are in the 28% marginal tax bracket and all benefits are provided on a nondiscriminatory basis. Write a letter to the UW Union members explaining the tax consequences of the options discussed below. The union's address is 905 Spruce Street, Washington, DC 20227. a) The company would impose a $100 deductible on medical insurance benefits. Most employees incur more than $100 each year in medical expenses. b) Employees would get an additional paid holiday with The same annual income (the same pay but less work). c) An employee who did not need health insurance (because the employer's spouse works and receives family coverage) would be allowed to receive the cash value of the coverage