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Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2018, he was issued a company car with a fair market value

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Malcolm Figueroa is a sales employee of Carefree Pools and Spas, Inc. During 2018, 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 3,600 miles for personal use, and his employer paid for fuel, charging Malcolm 5.5 cents per mile. Required: Under the lease value rule, what is the amount that must be added to Malcolm's gross pay for 2018? (Use the 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 (Lense.Value Rule) Employee Name: Malcolm Figueros Annual Lease Method: 1. Fair Market Value of Vehicle: 2. Annu La Value: 3. Prorated Annual Lease Percentage 4. Prorated Annual Lease Value: Annual Lease Value Prorated Annual Lease Percentage 5. If fuel is provided by the employer, enter personal mich Total fuel charge for the personal miles driven 16. Total Personal Use Taxable income (1) Automobile FMV $ 0 to 999 1,000 to 1,999 2,000 to 2.999 3,000 to 3,999 4,000 to 4,999 5,000 to 5.999 6,000 to 6,999 7,000 to 7,999 8,000 to 8,999 9,000 to 9,999 10,000 to 10,999 11,000 to 11,999 12,000 to 12,999 13,000 to 13,999 14,000 to 14,999 15,000 to 15,999 16,000 to 16,999 17,000 to 17,999 18,000 to 18,999 19,000 to 19,999 20,000 to 20.999 21,000 to 21.999 22,000 to 22,999 23,000 to 23.999 24,000 to 24,999 25,000 to 25,999 26,000 to 27,999 28,000 to 29,999 30,000 to 31,999 32,000 to 33,999 34,000 to 35.999 36,000 to 37,999 38,000 to 39,999 40.000 to 41.999 42,000 to 43.999 44,000 to 45,999 46,000 to 47,999 48,000 to 49,999 50,000 to 51.999 52.000 to 53,999 54.000 to 55,999 56,000 to 57.999 58,000 to 59.999 (2) Annual Lease 600 850 1.100 1,350 1,600 1,850 2,100 2,350 2,600 2,850 3,100 3,350 3,600 3,850 4,100 4,350 4,600 4,850 5.100 5,350 5,600 5,850 6.100 6,350 6,600 6,850 7,250 7.750 8.250 8,750 9.250 9,750 10.250 10,750 11,250 11,750 12.250 12,750 13.250 13,750 14,250 14.750 15.250

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