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24 Michael McBride is an employee of Reach-it Pharmaceuticals. His company car is a 2020 Lexus GS 200t with a fair- market value of $50,000

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24 Michael McBride is an employee of Reach-it Pharmaceuticals. His company car is a 2020 Lexus GS 200t with a fair- market value of $50,000 and a lease value of $13,250, according to Publication 15-b. During the year, Michael drove 45,000 miles, of which 9,000 were for personal use. The car was available for use on 270 of the days during the year. All gasoline was provided by the employer and is charged back to Michael at $0.055 per mile. What is the amount of the company-car fringe benefit that will appear on Michael's W-2, using the lease-value rule? (Do not round intermediate calculations, only round final answer to two decimal points.) 2 points Multiple Choice $2,455.27 O $2,156.87 $2,742.77 O O $1,960.27

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