An employer permits a sales employee to use the employer's car for private use each day of the FBT year. The car was purchased by the employer for $30,000 two years ago and no logbook is maintained. The employee was required to contribute $1,000 towards the running costs. What is the taxable value of the fringe benefit?

Group of answer choices

$5,800

$5,000

$29,000

$6,000