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Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehiclesper year at a discount. Levingston's average gross

Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehiclesper year at a discount. Levingston's average gross profit percentage is 15%. This year Kevin purchased a 530 model and a new M3.

Model FMV Dealer cost Employee Price 530 $63,250 $50,250 $54,125 M3 $71,400 $60,250 $57,250

What amount must Kevin include in income?

Multiple Choice

  • $3,440.
  • $0.
  • $2,950.
  • $22,000.

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