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Assume that a company operates a fleet of limousines. If a limo is driven 80,000 miles during a year its average operating cost is 25
Assume that a company operates a fleet of limousines. If a limo is driven 80,000 miles during a year its average operating cost is 25 cents per mile. If a limo is driven only 60,000 miles during the year, its average operating cost is 30 cents per mile. Using the high-low method, what is the estimated fixed cost per year?
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