Answer:
Total= $5,960
Explanation:
Giving the following information:
Annual depreciation $ 3,000
Annual mileage 15,600
Current year's loan interest $ 750
Miles per gallon 24
Insurance $ 980
License and registration fees $ 165
Average gasoline price $ 3.50 per gallon
Oil changes/repairs $ 970
Parking/tolls $ 820
Gasoline consumption= 15,600/24= 650 gallons
Annual operating cost:
Interest= 750
Insurance= 980
Licence= 165
Oil changes= 970
Parking= 820
Gasoline= 3.5*650= 2,275
Total= $5,960