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Tyler has a 24 percent marginal tax rate. His employer is willing to provide health insurance coverage for tyler if he will agree to a salary reduction. The insurance will cost the employer $5,040. If tyler pays that same amount for health insurance premiums, he will need $7,000 in order to pay the premiums and the taxes on the compensation. How much of a cash flow savings is available to the company if it pays $5,040 for tyler's health insurance, rather than $7,000 in compensation assuming the company has a 21 percent tax rate?

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