Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses:

1. $6,500 premium on business property and casualty insurance.
2. $2,100 fine paid for business entertainment.
3. $4,600 premium on key-person life insurance.
4. $59,000 political contribution.
5. $8,700 client meals.

Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses: a. $6,500 premium on business property and casualty insurance. b. $2,100 fine paid for business entertainment. c. $4,600 premium on key-person life insurance. d. $59,000 political contribution. e. $8,700 client meals. a. b. c. d. After-tax cost After-tax cost After-tax cost After-tax cost After-tax cost