Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

JDD Corporation provides the following benefits to its employee, Ahmed (age 33): Salary $ 313,000 Health insurance 12,500 Dental insurance 4,200 Life insurance 5,100 Dependent

JDD Corporation provides the following benefits to its employee, Ahmed (age 33):

Salary $ 313,000
Health insurance 12,500
Dental insurance 4,200
Life insurance 5,100
Dependent care 3,700
Professional dues 1,430
Personal use of company jet 217,000

The life insurance is a group-term life insurance policy that provides $218,000 of coverage for Ahmed. Assuming Ahmed is subject to a marginal tax rate of 32 percent, what is his after-tax benefit of receiving each of these benefits? (Use EXHIBIT 12-8.) (Enter all amounts as positive values. Round your intermediate computations and final answers to the nearest whole dollar.)

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.

5-Year Age Bracket Cost per $1,000 of Protection for One Month Under 25 $0.05 25 to 29 .06 30 to 34 .08 35 to 39 .09 40 to 44 .10 45 to 49 .15 50 to 54 .23 55 to 59 .43 60 to 64 .66 65 to 69 1.27 70 and above 2.06

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Puzzling Auditing Puzzles

Authors: Janice P. Russell

1st Edition

0873894782, 978-0873894784

More Books

Students also viewed these Accounting questions

Question

Which form of proof do you find least persuasive? Why?

Answered: 1 week ago