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Annual depreciation $ 3,000 Annual mileage 14,640 Current year's loan interest $ 710 Miles per gallon 24 Insurance $ 860 License and registration fees $
Annual depreciation | $ | 3,000 | Annual mileage | 14,640 | ||
Current year's loan interest | $ | 710 | Miles per gallon | 24 | ||
Insurance | $ | 860 | License and registration fees | $ | 125 | |
Average gasoline price | $ | 3.50 | per gallon | Oil changes/repairs | $ | 730 |
Parking/tolls | $ | 660 | ||||
a. | Calculate total annual operating cost of the motor vehicle. |
Total variable cost | $ | |
Total fixed cost | $ | |
Total annual operating cost | $ | |
b. | Calculate operating cost per mile. (Enter your answer in cents rounded to 1 decimal place.) |
Operating cost per mile | cents |
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