Answer:
Explanation:
The Employers pay some benefits to the employees apart from the compensation for services of the employees.
Such benefits are referred to as Fringe benefits. A part of the group-term life Insurance benefit is taxable and other part is non-taxable.
Group term-life Insurance is taxable up to a statutory limit of $50,000.
To see the calculate Mr G's taxable annually group-term life insurance premium is in the attached file.
Hence the taxable Insurance premium per month is $11,50
Refer to exhibit 12-11 for the cost for $1,000 of group-term life insurance premium (If the age bracket to form 50-54) .
