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An employer provides a car costing $25000 t an employee. The car is...

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Accounting

An employer provides a car costing $25000 t an employee. The car is to be used for business travel and for personal use throughout the year. During the year the employer expends $5000 for operating costs relating to insurance, gas, maintenance and repair. During the year, the employee drives the car 30000 km of which 160000 km for personal use and 14000 km is for business use. Compute the taxable benefit for the year.

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