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Yan Li purchased a used vehicle for $8,500 one year ago. He drove 15,000 miles during the year and kept a record of all
Yan Li purchased a used vehicle for $8,500 one year ago. He drove 15,000 miles during the year and kept a record of all his expenses. The variable costs totaled $2,972.50 and the fixed costs totaled $2,575.25. What was the cost per mile for Li to operate his vehicle last year? $2.70 $0.37 $0.20 $0.16
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