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5. Taxpayer, age 61, is employed by the Ajax Company. The Ajax Company offers group term life insurance for all full-time employees. Taxpayer is covered

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5. Taxpayer, age 61, is employed by the Ajax Company. The Ajax Company offers group term life insurance for all full-time employees. Taxpayer is covered under a policy providing a $90,000 death benefit. The Ajax Company made premium payments of $540 for Taxpayer's coverage during the year. How much, if any, additional income will be reported on Taxpayer's W-2 for the year as a result of the life insurance coverage? A $ 540 B 0 C D 320 270 None of the above E

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