PF1 Final 2021Feb 2

9.Diane Lemay works for Monarch Construction in Alberta and earns an annual salary of $47,000.00 paid on a bi-weekly basis. The company provides its employees with group term life insurance coverage of two times annual salary and pays a monthly premium of $0.56 per $1,000.00 of coverage. Diane uses her car to meet with clients on company business and receives a taxable car allowance of $50.00 per pay. The company has a defined contribution pension plan to which Diane contributes 5% of her salary each pay.