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Aatt Simpson owns and operates Quality Craft Rentals, which offers canoe rentals and shuttle service on the Nantahala River. Customers can rent canoes at one

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Aatt Simpson owns and operates Quality Craft Rentals, which offers canoe rentals and shuttle service on the Nantahala River. Customers can rent canoes at one station, enter the river there, and exit at one of two designated locations to catch a shuttle that eturns them to their vehicles at the station they entered. Following are the costs involved in providing this service each year: Quality Craft Rentals began business with a $26,500 expenditure for a fleet of 30 canoes. These are expected to last 10 more years, at which time a new fleet must be purchased. Rentals have been stable at about 6,700 per year. Required: Aatt is happy with the steady rental average of 6,700 per year. For this number of rentals, what price should he charge per rental for he business to make an annual 15% before-tax return on assets using life-cycle costs? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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