Colin is a real estate agent and uses his own vehicle for work. He purchased a Volkswagen
Fantastic news! We've Found the answer you've been seeking!
Question:
Odometer reading 1 July 2018
120 km
Odometer reading 30 September 2018
5,430 km
Business kilometers 1 July to 30 September 2018
2,354 km
Odometer reading 1 July 2021
64,760 km
Odometer reading 30 June 2022
86,778 km
He has receipts for the following expenses -
$990 Insurance
$850 Repairs
$250 Parking fines
$180 Automobile Association
$520 Washing of car
$4,746 Depreciation
$629 Interest on car loan
Colin has not kept fuel receipts, but knows the fuel efficiency of his vehicle is 8.3 litres per 100 km and the average price for diesel in his area $1.739 during the year.
Calculate the business use percentage of Colin's car.
Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
Posted Date: