Grace's employer is now offering group-term life insurance. The company will provide each employee with $165,000 of group-term life insurance. It costs Grace's employer $815 to provide this amount of insurance to Grace each year. Assuming that Grace is 53 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. (Include amount up to two decimal places. Do not use dollar sign or commas.)

Uniform Premiums for $1,000 of Group-Term Life Insurance Protection

Five-Year Age Bracket Cost per $1,000 of Protection for One Month

Under 25 $0.05

25 to 29 0.06

30 to 34 0.08

35 to 39 0.09

40 to 44 0.10

5 to 49 0.15

50 to 54 0.23

55 to 59 0.43

60 to 64 0.66

65 to 69 1.27

70 and above 2.06