John Paul Smith, an insurance executive receives a salary of $500,000 monthly; and earned a commission of $750,000 in July 2021. He has a 3 year old car which the company provided him. The car cost the companyover $1,500,000. Private usage is 30%. Motor Vehicles: Annual Taxable Benefit Page 4 of 5 I Original Age of Motor Cost of Vehicle the Motor Up to 5 years Vehicle Old Up to $90000 $1,500,000 ($100,000) Over $120,000 $1,500,000 $140,000) Age of Motor Vehicle Over 5 Years Old $72,000 ($80,000) $98,000 ($100,000) He was in Montego Bay on special assignment for 3 days and spent an average of $20,000 per day, which he paid using the company's credit card. He gets a housing allowance of $60,000 monthly. Required Compute his gross emoluments for the month of July. State your assumptions for the computation