Vehicle Costs

Annual depreciation

Current year's loan interest

Insurance

License and registration fees

Parking and tolls

Annual mileage

Miles per gallon

Average gasoline price

oil changes and repairs

$$2,600$

$$960$

$$1,110$

$$73$

$$491$

$18,300$

$24$

$$3\mathrm{.}10$ per gallon

$$448$

a$.$ Calculate the annual variable and fixed costs of the vehicle.

b$.$ Compute the operating cost per mile.

Complete this question by entering your answers in the tabs below.

Required b

Compute the operating cost per mile.

Note: Do not round intermediate calculations. Enter your answer in cents rounded to $1$ decimal place.

Operating cost

cents per mile