What method(s) may be used to determine the fair market value of the personal use of a company car? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

Question

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The Commuting Rule and the Cents-Per-Mile Rule are both recognized methods for determining the fair market value of the personal use of a company car. The Commuting Rule provides a straightforward valuation based on each one-way commute, while the Cents-Per-Mile Rule calculates the value based on the IRS standard mileage rates.

What Method(s) May Be Used to Determine the Fair Market