Question
Based on the data provided here, calculate the items requested: Annual depreciation $ 2,500 Annual mileage 14,280 Current year's loan interest $ 690 Miles per
Based on the data provided here, calculate the items requested:
| Annual depreciation | $ 2,500 | Annual mileage | 14,280 | |
|---|---|---|---|---|
| Current year's loan interest | $ 690 | Miles per gallon | 24 | |
| Insurance | $ 815 | License and registration fees | $ 110 | |
| Average gasoline price | $ 4.00 | per gallon | Oil changes/repairs | $ 640 |
| Parking/tolls | $ 600 |
a. Calculate total annual operating cost of the motor vehicle.
b. Calculate operating cost per mile. (Round your answer to 2 decimal places.)
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
