Jennifer Ozman is a sales engineer at Montana Chemical Engineering Company. Jennifer owns two vehicles, and one
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If her interest rate is 7%, what should be Jennifer's reimbursement rate per mile so that she can break even?
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First Year Second Year Third Year $1,545 220 635 Depreciation Scheduled maintenance Insurance Registration and taxes Total ownership cost Nonscheduled repairs Replacement tires Accessories Gasoline and taxes Oil Parking and tolls $2.879 100 635 78 $1,776 153 635 $3,692 35 35 15 688 80 $2,621 85 30 13 650 100 50 S2.450 200 27 12 522 100 Total operating costs$988 54.680 14,500 135 5 10 $971 $3.421 11,500 1.003 $3,624 13,000 Total of all costs Expected miles driver
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Salvage value 11000 2879 1776 1545 4800 Capital recovery cost CR7 11000 4800A...View the full answer
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