Brief Exercise 9-7 (Part Level Submission) Wildhorse Taxi Service uses the units-of-activity method in computing depreciation on its taxicabs. Each cab is expected to be driven 160,000 miles. Taxi no. 10 cost $31,000 and is expected to have a salvage value of $600. Taxi no. 10 is driven 30,000 miles in year 1 and 24,000 miles in year 2.

(a1)

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Calculate depreciable cost per mile using unit-of-activity method. (Round answer to 2 decimal places, e.g. 0.50.)

Depreciable cost

$ per mile