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An employee who will be 40 years old on April 1 receives group-term life insurance coverage of $75,000. How much taxable income must this employee

An employee who will be 40 years old on April 1 receives group-term life insurance coverage of $75,000. How much taxable income must this employee recognize for January 2017?

a.$2.50 b.$2.75 c.$12.75 d.$4.25

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