Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. phillip, who is 35 years old, receives group-term

Phillip, who is 35 years old, receives group-term life insurance coverage of $75,000 and contributes...

60.1K

Verified Solution

Question

Accounting

Phillip, who is 35 years old, receives group-term life insurance coverage of $75,000 and contributes $25 per year on an after-tax basis toward the premium cost. What is his annual taxable income for this benefit?

a. $74 b. $99 c. $33 d. $2

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

let p3x be the third order polynomiol interpolatign function f(x)=sin(x) at 0,1/3,2/3,1 show that for any...

Advance Math
Q

Interpret Young s Double slit experiment Two straight and narrow parallel slits 3mm apart are...

Physics
Q

Calculate the angular frequency of the system shown in figure Friction is absent everywhere and...

Physics
Q

A horizontal slice through a 3D solid produces a circle similar to the one shown...

Geometry
Q

The total number of possible outcomes for 4 rolls of a eight sided die is...

Statistics
Q

Funky Kids Inc manufactures and sells toys. The information below relates to the...

Accounting
Q

What is the correct answer, please? Multiple Choice

Accounting
Q

Jacoby Company received an offer from an exporter for 24,700 units of product at $18...

Accounting
Q

how can i change the blue cells ( and only blue cells) to interactively see...

Accounting
Q

Accounting 122 ...

Accounting
Q

Blackbeans Inc. went public 15 years ago and its IPO was a huge success. The...

Finance
Q

Oslo Company prepared the following contribution format income statement based on a sales volume of...

Accounting