\begin{tabular}{lr} \hline Employee's age & Premiums \\ \hline Under 25 & $0.05 \\ 25 to 29 & .06 \\ 30 to 34 & .08 \\ 35 to 39 & .09 \\ 40 to 44 & .10 \\ 45 to 49 & .15 \\ 50 to 54 & .23 \\ 55 to 59 & .43 \\ 60 to 64 & .66 \\ 65 to 69 & 1.27 \\ 70 and above & 2.06 \\ \hline \end{tabular} a. How much may Creative Corporation deduct for group term life insurance premiums? b. How much income must be reported by each employee? Life Insurance Data Creative Corporation provides nondiscriminatory group term life insurance coverage for the entire year for its employees. Information for the current year is as follows: View the life insurance data. View the Uniform One-Month Group Term Premiums for $1,000 of Life Insurance Coverage. Read the requirements. Requirement a. How much may Creative Corporation deduct for group term life insurance premiums? The amount Creative Corporation can deduct for group term life insurance premiums is