Question - Really Fast Delivery Services has the collected the following information about operating expenditures for its delivery truck fleet for the past five years:
|
Year
|
Miles
|
Operating Costs
|
|
2009
|
110,000
|
$390,000
|
|
2010
|
140,000
|
$420,000
|
|
2011
|
100,000
|
$360,000
|
|
2012
|
130,000
|
$410,000
|
|
2013
|
170,000
|
$450,000
|
What is the best estimate of total operating expenses for 2014 using the high-low method based on total expected miles of 120,000?