Question: Based on the data provided here, calculate the items requested: Annual depreciation$2,500Annual mileage13,680 Current year's loan interest $670Miles per gallon24 Insurance $740License and registration fees

Based on the data provided here, calculate the items requested:

Annual depreciation$2,500Annual mileage13,680 Current year's loan interest $670Miles per gallon24 Insurance $740License and registration fees $85 Average gasoline price $3.50 per gallonOil changes/repairs $490 Parking/tolls $500

a.Calculate total annual operating cost of the motor vehicle.

b.Calculate operating cost per mile.(Round your answer to 2 decimal places.)

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