Part C - (8 marks) Unified Parcel, Inc., operates a local parcel delivery service. The company keeps detailed records relating to operating costs of trucks and has found that if a truck is driven 110,000 miles per year the operating cost is 7.5 cents per mile. This cost increases to 8.75 cents per mile if a truck is driven 60,000 miles per year. Required (show all calculations); Estimate the cost formula for truck operating costs using the high-low method. . Calculate the variable cost per mile . Estimate the Fixed cost . The cost formula [Hint: use the table format below to determine the high-low method. Enable the HTML Editor to write your answer Activity Cost High Low Change