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Use the following information to answer the next four questions Betty Barnes is provided with an automobile by her employer. The cost of the automobile

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Use the following information to answer the next four questions Betty Barnes is provided with an automobile by her employer. The cost of the automobile in 2017 was $35,000, not including GST. In 2020, the fair market value of the vehicle was $23,000. During 2020, she drove the automobile a total of 26,000 kilometres, 14,000 were for employment related duties. The automobile was available to Mrs. Barnes from March to December and her employer deducted $50 a month from her pay for her personal use. Mrs. Barnes 2020 stand-by charge is. $3,311 $5,291 $5,039 $6,349 Mrs. Barnes 2020 operating cost benefit is: $3,360 $2,520 $1 656 $2 645 The total taxable benefit included on Mrs. Barnes 2020 T4 regarding his use of the vehicle was $4,467 $7,436 $7,059 $3,246 On February 1, 2020, Pat Pollard received a $35,000 loan from her employer to assist her in purchasing a vehicle. The loan requires annual interest at a rate of 2 percent calculated each December 31st, payable on or before January 10th of the following year. Assume that the relevan prescribed rate is 4 percent during the first quarter of 2020,3 percent during the second quarter, and 2 percent during the remainder of the year. She uses the vehicle for employment purposes 15% of the time. The taxable benefit included on Ms. Pollard's 2020 T4 will be $700 $841 $170 $200 Use the following information to answer the next four questions Betty Barnes is provided with an automobile by her employer. The cost of the automobile in 2017 was $35,000, not including GST. In 2020, the fair market value of the vehicle was $23,000. During 2020, she drove the automobile a total of 26,000 kilometres, 14,000 were for employment related duties. The automobile was available to Mrs. Barnes from March to December and her employer deducted $50 a month from her pay for her personal use. Mrs. Barnes 2020 stand-by charge is. $3,311 $5,291 $5,039 $6,349 Mrs. Barnes 2020 operating cost benefit is: $3,360 $2,520 $1 656 $2 645 The total taxable benefit included on Mrs. Barnes 2020 T4 regarding his use of the vehicle was $4,467 $7,436 $7,059 $3,246 On February 1, 2020, Pat Pollard received a $35,000 loan from her employer to assist her in purchasing a vehicle. The loan requires annual interest at a rate of 2 percent calculated each December 31st, payable on or before January 10th of the following year. Assume that the relevan prescribed rate is 4 percent during the first quarter of 2020,3 percent during the second quarter, and 2 percent during the remainder of the year. She uses the vehicle for employment purposes 15% of the time. The taxable benefit included on Ms. Pollard's 2020 T4 will be $700 $841 $170 $200

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