Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 52 cents permile. Aldo estimates that his fixed costs per year-such as taxes, insurance, and depreciation-are $2,400. The direct or variablecosts such as gas, oil, and maintenance-average about 21.5 cents per mile.How many miles must he drive to break even? (Do not round intermediate calculations. Roundup your answer to the nextwhole number.)Break even pointmiles

Information Provided: Reimbursement = 52 cents or 0.52 Fixed costs = $2400 Variable costs = 21.5…

Answered: How many miles must he drive to break…

How many miles must he drive to break even? (Do not round intermediate calculations. Roundup your answer to the next whole number.)

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

Aldo Redondo drives his own car on company business. His employer reimburses him for such travel at the rate of 52 cents per
mile. Aldo estimates that his fixed costs per year-such as taxes, insurance, and depreciation-are $2,400. The direct or variable
costs such as gas, oil, and maintenance-average about 21.5 cents per mile.
How many miles must he drive to break even? (Do not round intermediate calculations. Roundup your answer to the next
whole number.)
Break even point
miles

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