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Calculate véronique monthly taxable benefit

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Reference no: EM132627685

Problem 1: Véronique's life insurance coverage through her Québec employer's group plan is 2 times her annual salary of $30,000.00. Her employer pays the insurer 100% of the cost of her life insurance coverage at a premium rate of $0.50 per $1,000.00 of coverage per month, which does not include tax. Calculate Véronique's monthly taxable benefit.

Hint: The monthly premium plus the tax is the monthly taxable benefit will be $32.70.

Reference no: EM132627685

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