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Kristen purchased a used automobile with an expected life of 4 years for $10,000 at the beginning of last year and incurred the following operating

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Kristen purchased a used automobile with an expected life of 4 years for $10,000 at the beginning of last year and incurred the following operating costs: Depreciation $ 2,500 Insurance $ 1,700 Automobile tax and license $ 600 Gasoline $ 0.20 per mile Other variable operating costs $ 0.11 per mile Assuming Kristen drove the car 12,000 miles last year, compute the average cost per mile of owning and operating the car. a. 0.31 b. 0.11 C. 0.40 d. 0.71

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