In the current year, Jill, age 35, received a job offer with two alternative compensation packages to choose from. The first package offers her $93.000 annual salary with no qualified fringe benefits and requires her to pay $5,000 a year for parking and to purchase life insurance at a cost of $2,500. The second package offers $81,500 annual salary, employer provided health insurance, annual free parking (worth $470 per month). $200,000 of life insurance purchasing on her own would have been $2,500 annually) and free flight benefits (she estimates that it will save her $6,500 per year). If Jul chooses the first package, she will purchase the health and life insurance benefits herself at a cost of $2,500 annually after taxes and spend another $6,500 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 $116,000 salary with no qualified benefits instead of $93.000 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. Regal Rega2 Reqb1 Reqb2 How much would she benefit in after-tax dollars by choosing this compensation package instead of the alternative package? (Round your intermediate computations to the nearest whole dollar amount.). Aller benefit $ 55,420 - Regal Req bi > EXHIBIT 12-8 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection Table Summary: Chart shows cost per $1,000 of life insurance protection for one month per 5-year age bracket. .09 5-Year Age Bracket bet Cost per $1,000 of Protection for One Month Under 25 $0.05 25 to 29 .06 30 to 34 .08 35 to 39 40 to 44 .10 45 to 49 .15 50 to 54 55 to 59 60 to 64 .66 65 to 69 1.27 70 and above 2.06 Source: Reg. $1.79-3(d)(2). .23 .43