risten Lu purchased a used automobile for $ at the beginning of last year and incurred the following operating costs:
Depreciation $: years $
Insurance $
Garage rent $
Automobile tax and license $
Variable operating cost $ per mile
The variable operating cost consists of gasoline, oil, tires, maintenance, and repairs. Kristen estimates, at her current rate of usage, the car will have zero resale value in five years, so the annual straightline depreciation is $ The car is kept in a garage for a monthly fee.
Required:
Kristen drove the car miles last year. Compute the average cost per mile of owning and operating the car.
Note: Round your answers to decimal places.
