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Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 171,000 kilometers during

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Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 171,000 kilometers during a year, the average operating cost is 13.5 cents per kilometer. If a truck is driven only 114,000 kilometers during a year, the average operating cost increases to 17.2 cents per kilometer. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation. Express the variable and fixed costs in the form Y = a + bX. If a truck were driven 142.000 kilometers during a year, what total cost would you expect to be incurred

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