The following questions are based on the material in Chapter 17: Q22. (Calculation of FBT liability, gross up values) Hook, Line and Plunger Coffee Shop provide their employees with the following fringe benefits during the 2017/18 FBT year. The employer is registered for GST and able to claim input tax credits. Description of Fringe Benefit Taxable Value Low interest loan $2,450 Payment of private telephone account 1,940 Use of a Volkswagen car (purchased January 2000) 3,380 Use of a Holden car (purchased March 2016) 9,415 Payment of private school fees (no GST) 10,825 The employer has not paid any FBT instalments during the year. Required: Calculate Fringe Benefits Tax payable by Hook, Line and Plunger Coffee Shop for the 2017/18 FBT year. Show separate calculations for any Type 1 and Type 2 fringe benefits. Type 1 (Only) Fringe Benefits