1. You have accepted a job with a salary of $100,000. You have the opportunity to participate in 401(k) and cafeteria plans and have elected to contribute $15,000 to the 401(k) plan and purchase health insurance for $7,500.

   1. Based only on the information provided, how much cash will you receive during your first full year of emploment? $

   2. Based only on the information provided, what will be your gross income for your first full year of employment? $