Miranda Is Not a Key Employee of AB Corporation

question 99

Multiple Choice

Miranda is not a key employee of AB Corporation.AB provides Miranda with group term life insurance coverage of $140,000.The premiums attributable to the excess coverage are $1,300.The uniform one-month group-term premium is one dollar per $1,000 of coverage.How much must Miranda include in income?

• A)$0
• B)$1,080
• C)$1,300
• D)$1,680

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Definitions:

Polynomial Function

A mathematical expression consisting of variables and coefficients that involves only the operations of addition, subtraction, multiplication, and non-negative integer exponents of variables.

Volume

The three-dimensional space occupied by an object, measured in cubic units.

Special Product Pattern

Refers to algebraic identities that simplify the multiplication or factoring of certain algebraic expressions, such as the square of a binomial.

Closed Rectangular Box

A three-dimensional figure with six faces, all of which are rectangles, and all angles are right angles.