Prompt Parcel Service operates a fleet of delivery trucks in a large metropolitan area. A careful study by the company's cost analyst has determined that if a truck is driven 100,000 kilometres during a year, the average operating cost is 14.0 cents ($0.140) per kilometre. If a truck is driven only 60,000 kilometres during a year, the average operating cost increases to 16.0 cents ($0.160) per kilometre. Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of operating a truck if it is driven 100,000 kms. (Round intermediate values to 3 decimal places.) Variable cost Fixed cost 2. Express the variable and fixed costs in the form Y- a+bX. (Round "Variable cost per kilometre" answer to 3 decimal places.) 3. If a truck was driven 80,000 kilometres during a year, what total cost would you expect to be incurred? (Round intermediate values to 3 decimal places.) Total cost