Ted works for Sage Motors, an automobile dealership. All employees can buy a car at the company?s cost plus 2%. The company does not charge employees the $175 transfer service fee that nonemployees must pay. Ted purchased an automobile for $24,480 ($24,000+480). The company?s cost was $24,000. The price for a nonemployee would have been $27,775)$27,600 +$175 transfer service fee). What is Ted?s gross income from the purchase of the automobile?
Paper#32354 | Written in 18-Jul-2015Price : $25