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Lesson 5 (90) Leyh’s Outdoor Adventures, Inc., would like to…

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Lesson 5 (90) Leyh’s Outdoor Adventures...
Lesson 5 (90)
Leyh’s Outdoor Adventures, Inc., would like to begin providing life insurance coverage for its employees. Three employees are officers; each earns $100,000 per year. The other three employees each earn $40,000 per year. Ricardo, president of Leyh’s, comes to you for advice on how to provide the coverage. He provides three alternatives, each of which will cost Leyh’s $15,000 per year (an average of $2,500 per employee):
Option 1—Give each employee $2,500 to purchase coverage.
Option 2—Buy a group term life insurance policy under which each employee would be covered for an amount equal to twice her or his annual salary.
Option 3—Buy a whole life insurance policy under which each employee would receive $100,000 worth of coverage.
Ricardo asks you to evaluate these options and advise him on the tax consequences of each. Write a letter to Ricardo explaining the tax effects of each option. Include your recommendation of the option that provides the greatest overall tax benefits.Please use an outside source
Submitted: 7 months ago.Category: Single Problem
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11/26/2017
Business Tutor: F. Naz, B.Com replied 7 months ago
F. Naz
F. Naz, B.Com
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Satisfied Customers: 5,482
Experience: Have completed B.Com and CA Finalist
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Hello

Do you have any deadline for this and could you cite me in this?

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Customer reply replied 7 months ago
Can you finish this in the next 24 hours and yes I can cite you
Business Tutor: F. Naz, B.Com replied 7 months ago

It will be good if you allow me 36 to 48 hours for this, thanks.

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Customer reply replied 7 months ago
Ok, no problem
Business Tutor: F. Naz, B.Com replied 7 months ago

Okay, i am sending you the offer please accept it so i can start working for you, thanks.

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Customer reply replied 7 months ago
I cannot accept your offer
Business Tutor: F. Naz, B.Com replied 7 months ago

Why?

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Customer reply replied 7 months ago
The price is too much for the question
Business Tutor: F. Naz, B.Com replied 7 months ago

So how much you are willing to pay

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Customer reply replied 7 months ago
Maximum $10 more
Business Tutor: F. Naz, B.Com replied 7 months ago

In that case i will opt out so you can have someone else, thanks.

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Business Tutor: Dr. Donna Kakonge, Retired College Professor replied 7 months ago
Dr. Donna Kakonge
Dr. Donna Kakonge, Retired College Professor
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Dear Customer,

Is this your only question?

Thank you and I look forward to your response.

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Business Tutor: Dr. Donna Kakonge, Retired College Professor replied 7 months ago

Dear Customer,

Great! I will make a small $5.00 offer to you to send you the answer via email. I can have the answer completed for you by the end of tonight.

Thank you and I can begin working on it once you accept the offer.

Thank you again for your business.

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