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Problem $8-8$ Calculating Motor Vehicle Operating Costs $[$LO$8-2]$

You have gathered the following vehicle costs:

Vehicle Costs

Annual depreciation $ $2,600$ Annual mileage $20,400$

Current year$$s loan interest $ $1,100$ Miles per gallon $24$

Insurance $ $1,090$ Average gasoline price $ $3\mathrm{.}40$ per gallon

License and registration fees $ $74$ Oil changes$/$repairs $ $464$

Parking$/$tolls $ $496$

$($a$)$ Calculate the annual variable and fixed costs of the vehicle. $($Round answer to nearest whole number.$)$

$($b$)$ Compute the operating cost per mile. $($Enter your answer in cents rounded to $1$ decimal place.$)$