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Sundown, Inc., purchases group term life insurance plan for its employees. Harold, age 38, receives $250,000 of insurance at a cost to the company of

Sundown, Inc., purchases group term life insurance plan for its employees. Harold, age 38, receives $250,000 of insurance at a cost to the company of $3,500. The IRS Table of Premium value indicates that premiums are $1.08 annually per $1,000 of protection ($0.09/month). Harold is not a shareholder. How much is added to Harolds Gross Income (via W-2) for this the life insurance?

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