Essay
Samson Company offers its employees a cafeteria plan. Julie is allotted $5,000 to spend on fringe benefits. She chooses a health insurance plan that costs $2,500 per year, a $50,000 whole life insurance policy with a $500 annual premium, and the remaining $2,000 she uses for the company's child and dependent care program. What is Julie's taxable compensation if her salary is $42,000?
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