Grace's employer is now offering group-term life insurance. The company will provide each employee with $135,000 of group-term life insurance. It costs Grace's employer $725 to provide this amount of insurance to Grace each year. Assuming that Grace is 57 years old, use the table to determine the monthly premium that Grace must include in income as a result of receiving the group-term life benefit. EXHIBIT 12:08 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection 5-Year Age Bracket Under 25 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49. 50 to 54 Cost per $1,000 of Protection for One Month $0.05 0.06 0.08 0.09 0.10 8.15 8.23 0.43 8.66 65 to 69 1.27 76 and above 2.06 55 to 59 60 to 64