The ownership and operating expenses for a typical automobile total $9,137 per year in 2017. Forty-eight percent of this is the capital recovery amount (depreciation plus finance charges). Fuel-related operating expense is based on driving 15,000 miles per year and it is assumed that it costs $0.21 per mile to drive. Other operating expenses are full-coverage insurance plus license, registration, and taxes. How much does it cost for these “other” operating expenses?

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A:

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