Joseph is eligible for a nontaxable life insurance benefit with an annual premium of $400 paid entirely by his employer.Assuming Joseph is in a 25% bracket,how much would he have to earn to pay for this benefit with after-tax dollars?
A) $425.00
B) $533.33
C) $433.33
D) $500.00
E) $400.00
Correct Answer:
Verified
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