Homework Answers
Television price for customer is = 500
Gross profit 25% on 500 = 125
Balance is = (500-125) = 375
Employee Price = 300
Income (375-300) = 75
Customer price for Service Contract= 150
Less: Discount 20% = 150 X 0.2= 30
Less: Employee price = 120
Income is (150-30-120) = 0
Total Employee income = 75 ('A' is correct answer)
Note: as per the non taxable employee benefits , in case of Service contract Employee qualified discounts is limited to only 20% on customer price
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