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Harold is 53 years old in 2017. In 2017, he receives group-term life insurance coverage...

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Accounting

Harold is 53 years old in 2017. In 2017, he receives group-term life insurance coverage of $85,000 and makes an annual pretax contribution toward the premium of $50. What is his annual taxable income for this benefit?

a. $201.60 b. $96.60 c. $251.60 $46.60

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