An employer provides each of its employees with life insurance protection equal to three times the employee's annual salary. Annette, who is 56, has an annual salary of $28,000. Is Annette required to recognize income even though she is still alive at the end of the year and thus nothing has been collected on the life insurance policy?

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Round answers to the nearest cent.

If the coverage exceeds $___, the employee must include in gross income the ___on the protection above this amount. Therefore, Annette includes $___.