A university is facing severe parking problems on campus and is considering providing shuttle services to students between campus and an off-campus parking lot. A small fee is to be charged for each shuttle ride. The funds raised by the shuttle will be used to finance the purchase and operation of the shuttle bus. Each shuttle bus costs $150,000 to purchase and has a 12-year service life with a salvage value of $3000. The operating costs of a shuttle bus are estimated as follows: If each ride costs 10 cents, how many rides are needed per year to justify the purchase and operation of the shuttle bus? Assume that MARR is 6%