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Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehicles at a discount. Levingstons average gross profit
Kevin is the financial manager of Levingston BMW. The shop allows employees to purchase up to two vehicles at a discount. Levingstons average gross profit percentage is 15%. This year Kevin purchased a 530 model and a new M3. Model FMV Dealer cost Employee Price 530 $63,500 $50,500 $54,250 M3 $71,300 $60,500 $57,500 What amount must Kevin include in income?
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