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QUESTION 4 A commuter in the Great Toronto Area is choosing between two commuting cars of comparable sizes. The first is a traditional gasoline car and the second is an all-electric car. Anticipated usage by the commuter is 20,000 km per year. The market value for both cars decreases by 10% per year (Declining Balance Depreciation). Given the data in the table below and assuming that paying will be in cash, answer the following at 0% interest rate. Gasoline car All-electric car Price $24,000 $36,000 Consumption 6.5 liters per 100 km 12 kWh per 100 km Fuel/Energy Price $0.85 per liter $0.14 per k Wh a) If the commuter is going to resell the car after 3 years, which car model is more economic? (7 Marks) b) What gas price would justify the all-electric model, over the gasoline model, if the commuter will resell the car after 4 years? (9 Marks) c) How many years of usage will justify buying the all-electric model? (Hint: the answer could be a fraction value). (9 Marks)