Your union is negotiating with your employer about contract terms for the upcoming year. The union is choosing between the following three options which are non-discriminatory and would apply to all employees: 1. Elimination of the annual $250 deductible on medical insurance expenses. You always spend more than $250 on medical expenses during the year. 2. An additional paid holiday during the year. 3. Any employee who does not need health insurance from the employer (because the employee's spouse works and receives family coverage) would be allowed to receive the cash value of the coverage. The cash value for you would be $5,000. Assume you are married, face a 24% tax rate and work 260 days a year. Your total annual salary of $65,000 will not change as a result of the new contract. What would the effect on your after-tax income be for each of the three options? Which one would you choose? Your union is negotiating with your employer about contract terms for the upcoming year. The union is choosing between the following three options which are non-discriminatory and would apply to all employees: 1. Elimination of the annual $250 deductible on medical insurance expenses. You always spend more than $250 on medical expenses during the year. 2. An additional paid holiday during the year. 3. Any employee who does not need health insurance from the employer (because the employee's spouse works and receives family coverage) would be allowed to receive the cash value of the coverage. The cash value for you would be $5,000. Assume you are married, face a 24% tax rate and work 260 days a year. Your total annual salary of $65,000 will not change as a result of the new contract. What would the effect on your after-tax income be for each of the three options? Which one would you choose