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A Sherwood Company employees' EI total premium payable for the year is $20,000. The employer's provide short-term disability to their employees which reduces the premium

A Sherwood Company employees' EI total premium payable for the year is $20,000. The employer's provide short-term disability to their employees which reduces the premium rate to 1.262 for EI contributions.

How much does the employer save in a year by having the short-term disability benefit for their employees?

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