Brent Bishop is the vice president of operations for Southern Sweets Bakery. He drives a 2017 Toyota Prius Prime as his company car, and it has a fair market value of $37,500. The annual lease for the vehicle is $9,750. He reported driving 34,750 miles during 2018, of which 20 percent were for personal reasons. The company pays his fuel and charges him five cents per mile for fuel charges. Using the lease value rule, what is the valuation of Brent’s company car benefit?