Practice Questions for the exam: Problem 1, Ch. 4: Prompt Parcel Service operates a fleet of delivery trucks in a large metropolitan area. A careful study by the company's cost analyst has determined that if a truck is driven 125,000 kilometers during a year, the average operating cost is 11.6 cents ($0.116) per kilometer. If a truck is driven only 90,000 kilometers during a year, the average operating cost increases to 15.3 cents ($0.153) per kilometer. Required: 1. Using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. 2. Express the variable and fixed costs in the form Y = a + bx. If a truck was driven 110,000 kilometers during a year, what total cost would you expect to be incurred