21. Molly's employer offers an adoption assistance program. Molly's AGI for 2021 is $70,000. If Molly's employer

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Question:

21. Molly's employer offers an adoption assistance program. Molly's AGI for 2021 is $70,000. If Molly's employer reimburses her $25,000 for her adoption costs, the amount Molly will be taxed on is:

a - $0

b - $10,560

c - $25,000

d - $10,000

e - $14,440

22.A company offers its employee, Vince (age 49), $75,000 of group term life insurance coverage. The annual premium paid is $125. The company pays the entire premium. According to the Uniform Premium Table, the monthly amount for each $1,000 of excess coverage for someone 49 years old is $.15. If Vince is not a key-employee, the taxable amount of this fringe benefit is:

a - $4

b - $135

c - $125

d - $45

e - $90