The operation cost is estimated to be 023 per mile for 364


The initial cost of a pickup truck is $12842 and will have a salvage value of $3910 after five years. Maintenance is estimated to be a uniform gradient amount of $148 per year, with zero dollar for first year maintenance. The operation cost is estimated to be $0.23 per mile for 364 miles per month. If the interest rate is 12%, what is the annual equivalent cost (AEC) for the truck?

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Financial Management: The operation cost is estimated to be 023 per mile for 364
Reference No:- TGS02402175

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