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:
A. $694.

B. $528.

C. $500.

D. $360.

Answer 1

My bet is D.

Answer 2

i found the answer its A , d would be if they wasnt tax exempt

Answer 3

\[\frac{500}{(1-0.28)}=694.444 \]