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An employee, Stephanie, uses a car owned by your company. In 2021, Stephanie drives 35,000 miles. Of those, 7,000 are personal miles. Fair market value
- An employee, Stephanie, uses a car owned by your company. In 2021, Stephanie drives 35,000 miles. Of those, 7,000 are personal miles.
Fair market value of the car is $20,000
Annual lease value is $5,600
What is the fair market value of Stephanie's personal use?
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Advanced Financial Accounting
Authors: Richard Lewis, David Pendrill
6th Edition
0273638335, 978-0273638339
