In chapter 4,Dianne Taylor won a 2016 Honda Accord on "The Price is Right" TV show.She has to pay taxes on her prize.The taxes are based on the car's ________ value.

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When it comes to determining taxes on non-cash prizes like cars, the fair market value is typically used. This is because it represents the price that the car could reasonably sell for on the open market, and therefore reflects its true value. The residual value is the estimated value of the car at the end of its lease term, and is not relevant in this situation. The manufacturer's suggested retail price and invoice price are both related to the cost of the car when it is purchased new, but do not necessarily reflect its value at the time of the prize award.

In Chapter 4,Dianne Taylor Won a 2016 Honda Accord on "The