1. Mark provides David (his employee) with a motor vehicle as part of his salary package. On 1 April of the current FBT year, Mark leased the vehicle for a weekly lease payment of $200 per week (total lease costs $10,400). The lease value of the car at the time was $37,000 (including $3,363 GST). David is allowed to use it for private purposes and it is garaged at his home every night. The registration and insurance costs for the car were $660 (including GST). Fuel costs paid by David during the year totalled $2,200 (including GST). Under the arrangement, David pays for all his fuel himself. Regular maintenance costs were $880 (including GST) for the year paid for by Mark. David's logbook indicates that of a total 15,000 kms travelled during the FBT year, 8,000 kms were private in nature. The car was made available for private use for the whole FBT year. (1 Point) The base value of the car will be $33,637. The total costs for the purpose of the cost basis' will be $3,740. The taxable value of the car fringe benefit using the cost basis is $1,994. The taxable value of the car fringe benefit using the statutory formula method is $5,200