Please answer the 4 attached problems. 4-42, 4-43, 4-45, and 4-62. Be sure to show the calculations. Thank you.

\fSol: (4-42) a. b. c. d. e. None of the amount is taxable. The amount is taxable. None of the amount is taxable. The full amount is taxable as it is derived from an employer financed policy. The full amount is taxable as it is derived from Ted's employer. Sol: (4-43) a. $4,100 ($3,600 + $300 + $200). The full amounts of premiums paid on Ursula's behalf are deductible. b. None of the premiums need be included in Ursula's gross income. c. The disability income of $5,000 is taxable. Ursula may possibly qualify for the credit for the elderly and disabled. Because the medical insurance benefit represents a reimbursement for medical expenses it is not taxable. d. None of the life insurance benefit is taxable. Sol: (4-45) a. If Joe elects to receive $100,000, he does not have to include any of the proceeds in gross income. b. His life expectancy of 20.0 years.. c. If Joe elects to receive installments he is entitled to exclude the face of $100,000. The annual exclusion is determined by dividing the $100,000 face by his life expectancy of 20.0 years ($100,000 20.0) = $5,000 d. Joe would report $9,000 [$14,000 - ($100,000 20.0)] of income each year