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Errol provides his employees with the use of a car for 183 days during the FBT year. during this period the traveled 16000 km. Errol

Errol provides his employees with the use of a car for 183 days during the FBT year. during this period the traveled 16000 km. Errol purchased the car last yer for $50000. the employee contributed $1000 towards the cost of running the car and has provided Errol with relevant documentation.

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Calculate the taxable value of the car fringe benefit using the statutory formula.

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