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Kristen Lu purchased a used automobile for $14,500 at the beginning of last year and...

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Accounting

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Kristen Lu purchased a used automobile for $14,500 at the beginning of last year and incurred the following operating costs Depreciation ($14,5005 years) Insurance Garage zent Automobile tax and license Variable operating cost 2, 900 1,500 800 400 0.11 per mile The variable operating cost consists of gasoline, oil, 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 $2,900. The car is kept in a garage for a monthly fee Required 1. Kristen drove the car 14,000 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 mile

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