40,000 km - 27,000 km was for driving to clients' offices, and 13,000 km for personal use. The company paid the $6,550 of operating expenses. What would be the minimum amount of the auto benefit for 2022 (round to nearest dollar)?
40,000 km - 27,000 km was for driving to clients' offices, and 13,000 km for personal use. The company paid the $6,550 of operating expenses. What would be the minimum amount of the auto benefit for 2022 (round to nearest dollar)?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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An employee was provided with a company car for the whole of 2022. The car originally cost $50,000 and has a current net book value of $10,000. The car was driven a total of 40,000 km - 27,000 km was for driving to clients' offices, and 13,000 km for personal use. The company paid the $6,550 of operating expenses. What would be the minimum amount of the auto benefit for 2022 (round to nearest dollar)?
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