Kevin is the financial manager of Levington BMW. The shop allows employees to purchase up to two vehicles per year at a discount. Levington's average gross profit percentage is 15%. This year Kevin purchased a 530 model and a M3. model         FMV           Dealer Cost            Employee Price 530.          $64,000       $51,000                   $54,500 M3            $71,700        $61,000                   $58,000 What amount must Kevin include in income?

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Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.