BCH, a large consulting firm in the United Kingdom, has a consulting staff consisting of 400 consultants at the rank of “associate.” On average, a consultant remains at the associate level for two years. After this time, 30 percent of the consultants are promoted to the rank of “engagement manager,” and the other 70 percent have to leave the company.
In order to maintain the consulting staff at an average level of 400 associates, how many new consultants does BCH have to hire each year at the associate level?