Question: Please help Miranda , age 57 , is not a key employee of Texas Corporation . Texas provides Miranda with group term life insurance coverage

Please help

Miranda , age 57 , is not a key employee of Texas Corporation . Texas provides Miranda with group term life insurance coverage of $140,000 . The insurance costs $1400 per year . No premiums are paid by Miranda . She has the policy for the entire year . How much must Miranda include in income for the year ? ( rounded )

$ 722.40

$1,400

$ 38.70

$464.40

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