Exercise 11-14 (Static) Identification of Relevant Costs [LO11-1] Kristen Lu purchased a used automobile for $8.000 at the beginning of last year and incurred the following operating costs Depreciation ($8,000 + 5 years) $ 1,600 Insurance $ 1.200 Garage rent $360 Automobile tax and license 540 Variable operating cost $ 0.14 per mile The variable operating cost consists of gasoline, ofl, tires, maintenance and repairs. Kristen estimates that, at her current rate of usage, the car will have zero resale value in five years, so the annual straight-line depreciation is $1600. The car is kept in a garage for a monthly fee Required: 1. Kristen drove the car 10,000 miles last year. Compute the average cost per mile of owning and operating the car (Round your answers to 2 decimal places.) Average fixed cont permite Variable operating cost per mile Average cost per me 5 000