Question: John Budd files a joint return with his wife. Budds employer pays 100% of the cost of all employees groupterm life insurance under a qualified

John Budd files a joint return with his wife. Budd’s employer pays 100% of the cost of all employees’ groupterm life insurance under a qualified plan. Under this plan, the maximum amount of tax-free coverage that may be provided for Budd by his employer is

a. $100,000

b. $ 50,000

c. $ 10,000

d. $ 5,000

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