4. Bill cashed in an old life insurance policy for $ 6,000. Bill had paid premiums over the years totaling $ 4,900. How much (if any) is included as gross income to Bill on the $ 6,000 he received from the insurance company? 5. Sam, age 33 is employees by Good Corporation. Good corporation provides Sam with free group term life insurance in the amount of $ 300,000. Does Sam recognize any gross income on this fringe benefit? If so, how much? 6. Billy works for an electronics store. His employer offers employee discounts to its employees. Calculate the amount (IF ANY), that would be included in Bill's gross income in each of the following situations: a. Bill receives a 40% discount on new Flat Screen TV's. The normal selling price to customers is $ 2,000 and TV cost to his employer $ 1,000. b. Same as (a) except the TV cost the employer $ 1,400. c. The electronics store offers a "service package", including hook-up and at home troubleshooting for 1 year for $ 200. This is offered to employees at a 30% discount (this service costs the employer $ 60.), Bill purchases this using his 30% discount