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Luis Billiot is an employee of Plato Designs and drives a 2017 Toyota Camry as a company car.The fair-market value of the car is $25,499 and the lease value is $6,850,according to Publication 15-b.The car has been available for 300 days during the year and Luis has driven 5,500 of 28,350 miles for personal use.He pays for his own fuel.What is the amount of the company-car fringe benefit that will appear on Luis's W-2,using the lease-value rule? (Do not round intermediate calculations,only round final answer to two decimal points. )
Year 2
Generally refers to the second year of operation, or the second year being considered in a multi-year analysis.
Debt-to-Equity Ratio
An indicator of the relative amounts of shareholders' equity and debt financing employed to support a company's assets.
Year 2
Not applicable as a key term for a specific definition without context.
Average Sale Period
An efficiency ratio that indicates the average number of days it takes for a company to convert its inventory into sales.
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