Chanda is employed in a local accounting company (ABC accounting) that specialises in providing tax return to individuals. On 1st April, 2020 ABC provided a car for Chanda to use both for business and...

Chanda is employed in a local accounting company (ABC accounting) that specialises in providing tax return to individuals. On 1st April, 2020 ABC provided a car for Chanda to use both for business and private purposes.

ABC Purchased the car on 1st January, 2020 for the amount of $28,000. During the year, repairs and maintenance costs amounted to $2,000. Chanda contributes $1,000 towards the cost.

Required:

Please calculate the fringe benefits taxable (FBT) amount for the car using the statutory method in this case for the FBT year 2020-2021.