Question:

Vronique's life insurance coverage through her Qubec employer's group plan is 2 times her annual salary of $30,000.00. Her employer pays the insurer 100% of the cost of her life insurance coverage at a premium rate of $0.50 per $1,000.00 of coverage per month, which does not include tax. Calculate Vronique's monthly taxable benefit.

Hint: The monthly premium plus the tax is the monthly taxable benefit should be $32.70