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M is employed in the soft drink industry. In addition to his salary, he enjoyed...

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Accounting

M is employed in the soft drink industry. In addition to his salary, he enjoyed the following benefits paid for by his employer in the current year: Contribution to company pension plan $14,000; Premium of $420 paid for group term life insurance coverage of $100,000; Annual public transport bus pass $500. What amount, with respect to the benefits, is included in Ms employment income for tax purposes

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