(3) If the fee to register the vehicle to which the registration is transferred exceeds by more than ten dollars ($10) the fee to register the vehicle for which the registration was originally issued, the amount determined under the following formula: STEP ONE: Determine the number of months between:
(i) the date on which the vehicle to which the registration is transferred was acquired; and(ii) the next registration date under this chapter for a vehicle registered by the person. A partial month shall be rounded to one (1) month.
STEP TWO: Multiply the STEP ONE result by one-twelfth (1/12).
STEP THREE: Determine the difference between:
(i) the registration fee for the vehicle to which the registration is transferred; minus(ii) the registration fee for the vehicle for which the registration was originally issued.STEP FOUR: Determine the product of:
(i) the STEP TWO result; multiplied by(ii) the STEP THREE result. A fee collected under this subdivision shall be deposited in the motor vehicle highway account.