40 points 2. Express the variable and fixed costs in the form Y = a + bX. (Do not round your intermediate calculations. Round the Variable cost eBook per kilometer to 3 decimal places.) Hint Y = Print 3. If a truck were driven 145,000 kilometers during a year, what total cost would you expect to be incurred? (Do not round intermediate calculations.) Total annual costUnit 1 Application Assignment Saved Help Save & Exit Submit Check my work 2 Hoi Chong Transport, Lid., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 174,000 kilometers during a year, the average operating cost is 13.8 cents per kilometer. If a truck is driven only 116,000 kilometers during a year, the average operating cost increases to 17.7 cents per kilometer. 40 points Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation. (Do not round your intermediate calculations. Round the Variable cost per kilometer to 3 decimal places and Fixed cost answer to nearest whole eBook dollar amount.) Hint Kilometers Total Annual Print Driven Cost High level of activity Low level of activity Change Variable cost per kilometer per kilometer Fixed cost per year