Question: Current Attempt in Progress Michael is visiting his friend, who is profiting big-time on delivering online or phone-in restaurant food orders to people in
Current Attempt in Progress Michael is visiting his friend, who is profiting big-time on delivering online or phone-in restaurant food orders to people in their homes. Michael wants in on this money-making venture. Since there is already an established market for this type of service in his area, he can't just charge any amount that he wants for these deliveries; he needs to be consistent with agreed-on rates depending on distance. Michael estimates that he can make 800 deliveries this year. If the going rate for a standard delivery is $8, how much cost can he incur on the drive and still achieve a return of 20% on his vehicle cost of $22,600? (Round answer to 2 decimal places, e.g. 15.25.) Costs on each delivery
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