J is a 56-year-old executive who has worked for AM, Inc., since 1975.Her current contract with AM includes $100,000 of group-term life insurance.The taxable amount for each $1,000 of insurance protection, given J's age, is $5.16 annually.Assuming J is in the 28 percent marginal tax bracket, the after-tax cost of this policy to J in the current year is

Question

Quizplus · Accepted Answer

The Answer of J is a 56-year-old executive who has worked for AM, Inc., since 1975.Her current contract with AM includes $100,000 of group-term life insurance.The taxable amount for each $1,000 of insurance protection, given J's age, is $5.16 annually.Assuming J is in the 28 percent marginal tax bracket, the after-tax cost of this policy to J in the current year is

J Is a 56-Year-Old Executive Who Has Worked for AM