Critical Thinking 4-1 (Algo) 1 1 Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc., During 2019, he was issued a company car with a fair market value of $35,000. He drove a total of 22,000 miles, used the car for 3,500 miles for personal use; and his employer paid for fuel, charging Malcolm 5.5 cents per mile. 49/3.75 Ints awarded Scored Required: Under the lease-value rule, what is the amount that must be added to Malcolm's gross pay for 2019? (Use the following table for lease values.) (Round your intermediate calculations and final answers to 2 decimal places.) Carefree Pools and Spas, Inc. Worksheet to Calculate Personal use of Company Vehicle (Lease-Value Rule) Employee Name: Malcolm Figueroa Annual Lease Method: 1. Fair Market Value of Vehicle: 2 Annual Lease Value: 3 Prorated Annual Lease Percentage % = 15.91 % $ 35,000.00 $ 9,250.00 Personal Miles 3,500.00 Annual Lease Value $ 9,250.00 Personal Miles 3,500.00 4 Prorated Annual Lease Value: $ /Total Miles 22,000.00 * Prorated Annual Lease Percentage 15.91% * Employer Charge Per Mile 0.055 = $1,471.68 5. $ If fuel is provided by the employer, enter personal miles: Total fuel charge for the personal miles driven: Total Personal Use Taxable income: $ 192.50 6. x