1. Jane Spring maintained this record of vehicle expenses for last year: gas, $845.96; oil, lube, miscellaneous, $68.85; insurance, $418.50; and license, $35.00. She drove 8,280 miles last year. Her 2-year-old vehicle cost $19,860.00 new and is now worth $11,860.00. a. What was her depreciation? b. What were her total variable costs? c. What were her total fixed costs? d. What were her total costs? e. What was her cost per mile to the nearest cent?

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To calculate Janes vehicle expenses as outlined in the question we can break it down step by ... View the full answer