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Finch Corporation has a group term life insurance policy with coverage equal to half the...

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Accounting

Finch Corporation has a group term life insurance policy with coverage equal to half the employees annual salary. Keith, age 66, is president of the corporation and receives an annual salary of $100,000.

How much is Keith required to include in gross income from the insurance protection for the year? Assume cost per $1,000 of Protection for One-Month Period is $1.27.

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