Business, 27.11.2019 01:31, sarbjit879

Group-term life insurance. (obj. 2) paine distributing pays an annual premium for $90,000 for nondiscriminatory group-term life insurance coverage on its president, fred j. noble. fred is 44 years of age. his wife, melanie, is the policy’s beneficiary. for this group-term life insurance, fred pays the company $0.20 per year for each $1,000 of coverage. his share of the insurance premium is deducted from his gross salary under paine’s payroll deduction plan. what portion of the group-term life insurance cost is included in fred’s gross income for the year?

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Group-term life insurance. (obj. 2) paine distributing pays an annual premium for $90,000 for nondis...