Question: In the current year, Ms. Patel is provided with a vehicle leased by her employer, Everex Ltd. The vehicle originally cost $30,000 and was leased

In the current year, Ms. Patel is provided with a vehicle leased by her employer, Everex Ltd. The vehicle originally cost $30,000 and was leased by Everex Ltd. in the prior year, on a 36-month lease term. Ms. Patel provides you with the following information: Days the vehicle was available for use by Ms. Patel in the current year: 250 Days the vehicle was leased by Everex Ltd. in the current year: 365 Fair market value of the vehicle in the current year: $14,500 Lease payments (including HST, excluding insurance): $820 per month Total kilometres driven in the current year: 29,000 Personal kilometres driven in the current year: 15,000 The minimum standby charge arising from the employer leased vehicle for Ms. Patel in the current year is:

A. $2,320\

B. $3,279

C. $4,373

D. $6,560

Please show workings?

Thank you!

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