Question 47 (1.5 points) Margaret has life insurance through her employer equal to three times her annual salary. She is 42 years old and has an annual salary of $100,000. The annual cost of the group term insurance is $50 for each employee. What is the annual taxable amount of the benefit for her? Table 1 Rates for Group Term Insurance Cost/$1,000 5-year age bracket insurance for 1 month period Under 25 $0.05 25 to 29 $0.06 30 to 34 $0.08 35 to 39 $0.09 140 to 44 $0.10 145 to 49 $0.15 50 to 54 $0.23 55 to 59 $0.43 160 to 64 $0.66 65 to 69 $1.27 70 and allove $2.06 $155 $130 $250 $200