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Question: A company is currently paying its employees $0.25 per mile to driv their own cars when on company business The company is considering supplying employees with cars, which would Involve the following; car purchase at $15.000, with an estimated 3-year life; a net salvage value of $5,000; taxes and Insurance at a cost of $500 per year; and operating and maintenance expenses of $0.10 per mlle. If the Interest rate is 10%. and the company anticipates an employee's annual travel to be 12,000 mlles, what is tha equivalent cost per mlle (without considering Income tax)?

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