Question

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:

Answer 1

Answer: $694

A tax-exempt employee benefit with a value of $500 would have a tax-equivalent value of: 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 $694.

Answer 2

Take 28% of 500 which is 140 then add that to 500.

The answer is 640.