Judi Pendegrass is an account representative at Ever Pharmaceuticals. She has a company car for customer visits, which she uses to commute from work to home on Friday nights and from home to work on Monday mornings, 50 weeks per year. Her commute is 25 miles each direction. Using the commuting rule, what is the valuation of the fringe benefit?
Number of miles drive for commute: 50 per week
Number of weeks used for commute: 50
Total number of commute miles driven per year: 2,500
Value of company vehicle used for commute: 2,500 miles x $1.50 = $3,750
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