Pratek is a small business owner who is the sole proprietor of Juiced, a smoothie bar with several locations. Gale, an insurance advisor, mentioned to Pratek that he should purchase a disability business overhead expense (BOE) insurance policy. What CORRECTLY describes the tax treatment of premiums paid and benefits received under this policy? Question 23 options: 

a) Premiums paid by Pratek are a tax-deductible business expense, benefits received are taxable 

b) Premiums paid by Pratek are not a tax-deductible business expense, benefits received are tax-free 

c) Premiums paid by Pratek are a eligible for the medical expense tax credit, benefits received are tax-free 

d) Premiums paid by Pratek are not a tax-deductible business expense, benefits received are taxable