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Kristen Lu purchased a used automobile for $11.450 at the beginning of last year and incurred the following operating co
Posted: Thu Apr 28, 2022 11:19 am
by answerhappygod
- Kristen Lu Purchased A Used Automobile For 11 450 At The Beginning Of Last Year And Incurred The Following Operating Co 1 (20.89 KiB) Viewed 29 times
Kristen Lu purchased a used automobile for $11.450 at the beginning of last year and incurred the following operating costs: Depreciation ($11.450 • 5 years) $ 2,290 Insurance $ 1,200 Garage rent $ 600 Automobile tax and license $ 310 Variable operating cost 0.99 per mile The variable operating cost consists of gasoline, olt, tires, maintenance, and repairs. Kristen estimates that, at her current rate of usage. the car will have zero resale value in five years, so the annual straight-line depreciation is $2.290. The car is kept in a garage for a monthly fee. Required: 1. Kristen drove the car 11,000 miles last year. Compute the average cost per mile of owning and operating the car (Round your answers to 2 decimal places.) Average fixed cost per mile Variable operating cost per mile Average cost per mille