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JDD Corporation provides the following benefits to its employee, Ahmed (age 37): Salary Health insurance Dental insurance Life insurance Dependent care Professional dues Personal use

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JDD Corporation provides the following benefits to its employee, Ahmed (age 37): Salary Health insurance Dental insurance Life insurance Dependent care Professional dues Personal use of company jet $366,eee 15,100 3, 30e 3,000 5,000 1,420 205, eee Assume the life Insurance is a group-term life Insurance policy that provides $243,000 of coverage for Ahmed. (Use EXHIBIT 12-8.) Assuming Ahmed is subject to a marginal tax rate of 32 percent, what is his after-tax benefit of receiving each of these benefits (Ignoring FICA taxes)? (Enter all amounts as positive values. Round your Intermediate computations and final answers to the nearest whole dollar.) Answer is not complete. Description Amount Taxable benefits Salary $366,000 Personal use of company jet 205,000 Life insurance (taxable portion) 270 Taxable total $ 571,270 32 96 Marginal tax rate Income tax on benefits After-tax benefit of taxable items Nontaxable benefits Nontaxable total $ 0 After-tax benefit of salary and benefits IS 0 EXHIBIT 12-8 Uniform Premiums for $1,000 of Group-Term Life Insurance Protection Cost per $1,000 of Protection for One Month 5-year Age Bracket Under 25 25 to 29 30 to 34 35 to 39 40 to 44 45 to 49 50 to 54 55 to 59 60 to 64 65 to 69 70 and above $0.05 .06 .08 .09 .10 .15 .23 .43 .66 1.27 2.06

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