Which of the following statements regarding $100,000 of group-term life insurance coverage provided on a noncontributory basis by an employer to an employee is CORRECT? A) There are no income tax consequences to the employee so long as the coverage is nondiscriminatory. B) The employee is taxed on the cost of coverage in excess of $50,000. C) The employee is taxed on the cost of coverage up to $50,000. D) The employee is taxed on the full cost of employer-paid coverage.