Answer:
total after tax benefits = $373,365.44
Explanation:
Salary $311,000 x (1 - 32%) = $211,480
Health insurance $13,600
Dental insurance $2,400
Life insurance $3,600 - $483 - [$483 x (1 - 32%)] = $2,788.56
Life insurance policy coverage for $225,000
Dependent care $4,500
Professional dues $960
Personal use of company jet $233,000 x (1 - 32%) = $158,440
Ahmed's tax rate = 32%
Life insurance taxable benefits = ($225,000 - $50,000) × (0.23 cents per mil) × 12 months = $483
income tax = (salary + personal use of jet + life insurance) x 32% = ($311,000 + $233,000 + $483) x 32% = $544,483 x 32% = $174,234.56
total after tax benefits = (salary + personal use of jet + life insurance) - income tax + (life insurance - life insurance taxable benefits) = $544,483 - $174,234.56 + ($3,600 - $483) = $373,365.44
