Question

Automobile Leasing A car-leasing agency purchases new cars each year for use in the¾ agency, The cars cost $15,000 new, They are used for 3 years, after which they are sold for $3,600. The owner of the agency estimates that the variable costs of operating the cars, exclusive of gasoline, are $0.16 per mile. Cars are leased at a flat rate of $0.33 per mile (gasoline not included). (a) What is the break-even mileage for the 3-year period? (b) What are total revenue, total cost, and total profit for the 3-year period if a car is leased for 50,000 miles? (c) What price per mile must be charged in order to break even if a car is leased for 50,000 miles over a period of 3 years?

Answer 1

Answer:

Articles of association form a document that specifies the regulations for a company's operations and defines the company's purpose. The document lays out how tasks are to be accomplished within the organization, including the process for appointing directors and the handling of financial records.