Exercise 04-02 M is employed in the soft drink industry. In... M is employed in the soft drink industry. In addition to his salary, he enjoyed the following benefits paid for by his employer in the current year: Contribution to company pension plan - $5,000; Premium of $300 paid for group term life insurance coverage of $50,000; Annual public transport bus pass - $600. What amount, with respect to the benefits, is included in M's employment income for tax purposes? $