Problem 06-03 (Algo) [LO 6-1, 6-4]

Assuming a 21 percent marginal tax rate, compute the after-tax cost of the following business expenses:

Required:

$5,900 premium on business property and casualty insurance.

$1,500 fine paid for business entertainment.

$4,000 premium on key-person life insurance.

$53,000 political contribution.

$8,100 client meals not provided by a restaurant.

Note: Round your final answers to the nearest whole dollar.

After tax cost A-E ?