Knight Higgins
06/11/2023 · Elementary School
Complete the problem. Check your answer in the back of the book. 1. DeeDee Farrar purchased a new car 3 years ago for \( \$ 33,500.00 \). Its current value estimate is \( \$ 19,900.00 \). Annual variable costs this year were \( \$ 995.60 \). The cost of insurance this year was \( \$ 2,350.00 \), registration was \( \$ 132.50 \), and loan interest totaled \( \$ 1,080.00 \). She drove 13,540 miles this year. Compute the (a) depreciation, (b) annual fixed costs, and (c) cost per mile.
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(a) Depreciation: $13,600
(b) Annual fixed costs: $3,562.50
(c) Cost per mile: $0.33664
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