Which formula is used to calculate the Annual Operating Cost for a vehicle?

The formula used to calculate the Annual Operating Cost for a vehicle takes into account all the relevant expenses associated with its operation. In this case, the correct answer includes Labor, Parts, and Fuel, which are key components that directly contribute to the total cost of operating a vehicle over a year.

Labor costs account for the personnel involved in operating and maintaining the vehicle, which can include salaries or wages for drivers and maintenance staff. Parts refer to the costs of any replacements or necessary components that need to be purchased to keep the vehicle running efficiently. Fuel is another significant expense, as it represents the ongoing cost associated with operating the vehicle.

By combining these three factors, you arrive at a comprehensive view of what it costs to operate the vehicle annually, giving you insight into budgeting and cost management for public works operations.

In contrast, the other options incorporate elements that are either incomplete or irrelevant to the total operating cost calculation. For instance, option D speaks to the financial aspect of a vehicle's purchase and eventual resale value, rather than the ongoing operational expenses.