Reference no: EM132888953

Problem 1: Using the following information, find the taxable value of the car benefit for the full FBT year using the operating cost method:

Cost price of vehicle $45,000

Date purchased 1 April 2015

Total kilometres travelled 80,000 km

Thereof, business kilometres travelled 35,000 km

Employee contributions $1,250

Benchmark interest rate 5.65%

Running costs (e.g. fuel, rego, etc.) $4,850

Consider all deemed costs.

Note:

1. the vehicle was available for private use every day during the period held.
2. round your calculated private use % down to the nearest full number (without decimals).

Select one:

a. $12,542

b. $10,439

c. $13,792

d. $9,189