AB Corp. purchased group term life insurance for all of its key employees in the amount of $100,000.00. The employer pays all of the premiums. Ann, age 50, is vice president and annual salary of $100,000.00. The cost of the insurance is $300.00. How much must Ann recognize in income?

a. $70.00

b. $300.00

c. $0

d. None of the above