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Renee age 37 begins a new job and is offered group term life insurance at her...

Renee age 37 begins a new job and is offered group term life insurance at her company. Her salary will be $125,000 per year and the company provides at no charge group term life insurance of 1x annual salary. She also has the option to purchase, and pay a monthly premium via salary deduction for up to 4 x salary with no medical exam. She can also purchase up to 10 x her salary but must provide evidence of insurability. She chooses to pay for an additional 2x of her salary and will receive employer paid life insurance with coverage of $125,000 and additional coverage paid by her of $250,000. How much of Renee's premium payment by her company will be considered a taxable benefit and included in her income for the year?

A.$81.00

B. $22.50

C.$6.75

D.$270

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