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Tom works two part-time jobs while going to school. He works at a clothing store because he is allowed a 30 percent discount on his clothes purchases and a cellular phone store that allows him a 50 percent discount on his cell phone service. During the year, he purchases clothes valued at $1,000 for $700. The store marks up its clothing 100 percent. He pays $240 ($20 per month) for his discounted cell phone service. How much income in addition to his salaries must he report for these fringe benefits?
AutoShift Transmission
An automated manual transmission that combines manual gear selection with automatic control of the clutch, allowing for semi-automatic or fully automatic driving without a traditional clutch pedal.
Inertia Brake
A braking system that utilizes the inertia of a moving vehicle to activate the brake without manual application, often found in trailers.
Vehicle Battery Bank
A group of batteries connected together in a vehicle to supply electrical power, especially in electric and hybrid vehicles.
Transmission ECU
The electronic control unit responsible for managing an automobile's transmission system operations.
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