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Barb Hotchkins is in the 28 percent tax bracket. A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of: a. $694. b. $528. c. $500. d. $360.

Barb Hotchkins is in the 28 percent tax bracket. A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of: a. $694. b. $528. c. $500. d. $360.
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Barb Hotchkins is in the 28 percent tax bracket. A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of:

a. $694.
b. $528.
c. $500.
d. $360.

User Carbontax
by
7.5k points

1 Answer

1 vote
A = 500/0.72 = $694 so the answer is A.
User Daszlosek
by
8.6k points
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