QUESTION 1 Question one (4 points) Hol Chong Transport, Tad, operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost in 22.8 cents per kilometer. If a truck is driven only 70,000 kilometers during a year, the average operating cont increases to 26.8 cents per kilometer Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the track operation 2. If a truck were driven 80,000 kilometers during a year, what total cost would you expect to be incurred? For the toolbar, press ALT+F10 (PC) OR ALT+FN+F10 (Mac), BIVS Paragraph Arial 14px DE AZI