Randy works for Titan Technologies. It was just announced th…
Randy works for Titan Technologies. It was just announced that the company wants to provide an increase to every employee’s overall annual compensation. Each employee is offered a choice between two options: Option 1) An annual salary increase of $1,000 Option 2) A dental insurance plan that costs $1,000 per year; and will be fully paid for by the company Randy is located in Philadelphia, PA; which has an effective tax rate (Federal, State, and Local) of 30% If Randy decides to choose Option #1 = how much value does he receive in terms of net (“take-home) compensation per year?
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