Suppose a new car is purchased for $68,000 and depreciates by 22% over the first year of ownership. If the car is driven 14,800 miles in that year, what is the cost (in dollars) per mile for depreciation? Round to the nearest cent.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Suppose a new car is purchased for $68,000 and depreciates by 22% over the first year of ownership. If the car is driven 14,800 miles in that year, what is the cost (in dollars) per mile for depreciation? Round to the nearest cent. 

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