Raja wishes to include a car in his salary package. Car value is $40,000 and he travels 20,000 km a year (stat. rate 20%). Assume costs are $14,000 per year and input tax credit is available (use 2.0802). a) What is the total package cost to Raja under the statutory method? b) What is the after tax savings to Raja if he is on the highest marginal tax rate use 47% (45% Marginal Tax Rate + 2% Medicare Levy)?

this is referring to the australian accounting system