Your answer is incorrect. Emmitt received a salary of $137,000 plus a $10,000 performance bonus. Additionally, his personal use of the company car had a fair market value of $6,200. The taxable portion of group-term life insurance in excess of $50,000 was $7,000 and the employer paid $13,000 in health insurance premiums. Calculate the amount of income reported in Box 1 of Form W-2. $173,200 $160,200 $137,000 $14,000