In the current year, Jill, age 35 , received a job offer with two alternative compensation packages to choose from. The first package offers her a $92,600 annual salary with no qualified fringe benefits and, requires her to pay $4,800 a year for parking and to purchase life insurance at a cost of $2,300. The second package offers an $81,300 annual salary, employer-provided health insurance, annual free parking (worth $460 per month), $200,000 of life insurance (purchasing on her own would have been $2,300 annually), and free flight benefits (she estimates that it will save her $6,300 per year). If Jill chooses the first package, she will purchase the health and life insurance benefits herself at a cost of $2,300 annually after taxes and spend another $6,300 in flights while traveling. Assume her marginal tax rate is 32 percent. (Use Exhibit 12-8.) Required: a1. Which compensation package should she choose? a2. How much would she benefit in after-tax dollars by choosing this compensation package instead of the alternative package? b1. Assume the first package offers a $114,000 salary instead of a $92,600 salary, and the other benefits and costs are the same. Which compensation package should she choose? b2. How much would she benefit in after-tax dollars by choosing this package? Complete this question by entering your answers in the tabs below. How much would she benefit in after-tax dollars by choosing this package? Note: Round your intermediate computations to the nearest whole dollar amount. EXHIBIT 12-8 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection Source: Keg. $1./Y(d)(L) and also published in IKS Fublication 1J-b