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Red, Inc. provides group term life insurance to all of its employees. Susan, a vice-president, received $200,000 of coverage for the year. The Uniform Premiums

Red, Inc. provides group term life insurance to all of its employees. Susan, a vice-president, received $200,000 of coverage for the year. The Uniform Premiums (based on Susan's age) are $.15 per month for $1,000 of protection. How much of this must Susan include in gross income this year?

$0

$360.00

$270.00

$280.00

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