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45 (1 point) Richard's life insurance coverage, through his employer's group plan is two times his annual salary of $47,000. His employer pays the insurer

45 (1 point) Richard's life insurance coverage, through his employer's group plan is two times his annual salary of $47,000. His employer pays the insurer 100% of the cost at a premium rate of $.90per$1,000 of coverage per month. Calculate Richard's taxable benefit assuming he is paid on a semi-monthly basis

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