Find the Retail Cost of Gasoline (Per Unit Volume) in Your

question 7

Essay

Find the retail cost of gasoline (per unit volume) in your area and find the
cost of electricity for residential users in your area.
(a) Compare the cost of energy (per MJ) from gasoline and from electricity from the public utility.
(b) The efficiency of a gasoline automobile is about 20% and the efficiency of a battery electric vehicle is about 85%. Discuss the relative transportation costs for gasoline and electric vehicles.

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Definitions:

Journal Entry

A record of financial transactions in the accounting books, showing accounts affected, amounts, and date.

Depreciable Cost

The total cost of a fixed asset that is allocated to depreciation expense over the asset's useful life, calculated as the asset's cost minus its salvage value.

Straight-Line Rate

A method of calculating depreciation of an asset, which assumes the asset will lose an equal amount of value each year over its useful life.

Annual Straight-Line Depreciation

A method of calculating the depreciation of an asset, spreading its cost evenly over its useful life.