2. Turner is a sales representative for a large pharmaceutical company. The company car is a 2022...
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2. Turner is a sales representative for a large pharmaceutical company. The company car is a 2022 Lexus ES, which has a fair market value of $47,000 and a lease value of $12,250. Turner has had the use of the vehicle for 180 days in 2023. Turner drove the vehicle 20 percent for personal use, and the employer does not provide fuel. Using the lease value rule, what is the value of the fringe benefit? (Round the final figure to two decimal places.)
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Related Book For
Payroll Accounting 2024
ISBN: 9781266832352
10th International Edition
Authors: Jeanette Landin, Paulette Schirmer
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