You have gathered the following vehicle costs:

	Vehicle Costs
	Annual depreciation	$	2,600	Annual mileage		15,100
	Current years loan interest	$	1,330	Miles per gallon		24
	Insurance	$	1,440	Average gasoline price	$	2.75	per gallon
	License and registration fees	$	70	Oil changes/repairs	$	451
	Parking/tolls	$	485

(a) Calculate the annual variable and fixed costs of the vehicle. (Round answer to nearest whole number.)

Variable & Fixed Costs
Annual variable cost
Annual fixed cost

(b) Compute the operating cost per mile. (Enter your answer in cents rounded to 1 decimal place.)

Operating cost =

cents per mile