Calculation of Form W2, Box 1 Jan (single, age 53) is an employee of Lafayette, Inc. In the current year, Jan earns a salary of $74,500 and receives the following fringe benefits: - Health insurance total annual premium = \$5,200: Jan pays $500 through withholding; Lafayette, Inc. pays $4,700 - Group term life insurance: coverage =$75,000 (all premiums paid by Lafayette, Inc.) - Annual membership dues to a country club =$4,800 (dues paid by Lafayette, Inc.) - (Traditional) 401 (k) plan: Jan contributes 10% of her annual salary; Lafayette, Inc. matches employee contributions dollar-for-dollar up to 5% of annual salary Calculate Jan's taxable compensation (Box 1 of Form W-2) for the tax year. Enter your answer using the following format: $XX,XXX (i.e., $13,552 ). Fill in the blank