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Otis Foster purchased a new two-door coupe for $23,690 two years ago. He drove 19,252 miles last year and kept a record of all
Otis Foster purchased a new two-door coupe for $23,690 two years ago. He drove 19,252 miles last year and kept a record of all auto expenses. He estimates the vehicle's present value at $18,320. Determine his cost per mile to operate his vehicle last year. Variable Costs Fixed Costs Gasoline $1834.25 Insurance $872 Oil changes 71.85 license/reg 112.50 Maintenance 224.90 loan interest 210.00 cleaning/parking 278.90 $1.26 $0.17 $0.26 $0.19
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