emaining Time: 51 minutes, 13 seconds. Question Completion Status: QUESTION 1 Question one (4 points) Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is driven 105,000 kilometers during a year, the average operating cost is 22.8 cents per kilometer. If a truck is driven only 70,000 kilometers during a year, the average operating cost increases to 26.8 cents per kilometer. Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation. 2. If a truck were driven 80,000 kilometers during a year, what total cost would you expect to be incurred? For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIU Paragraph Arial 14px A 2 v iii w Click Save and Submit to save and submit. Click Save All Answers to save all answers Save All Answers