The Internal Revenue Service (IRS) standard mileage rate is a way of computing an automobile expense deduction on a tax return when the vehicle is used for business purposes. The information in the data table provides the mileage rate in cents per mile for various years since 1999. Let M (t) be the standard mileage rate in cents per mile at t years since 1999. http://www.irs.gov/Tax-Professionals/Standard-Mileage-Rates/ (Links to an external site.)
year
Mileage rate
(cents/mile)
1999
31
2002
37
2005
41
2007
49
2011
51
2014
56
Fill in this input/output table with columns labeled with variable, units and description.
years after
Mileage Rate (cents/mile)
31
37
41
49
51
56
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