An engineer can buy backhoe for P850,000 each or rent them for P1100 per day. The backhoe has a salvage value of P120,000 at the end of its useful life of 5 years. The annual cost of maintenance is P20,000. Using the annual cost method and 14% interest rate, (a)determine the number of days per year that the backhoe must be used to warrant its purchase. (b) if the truck would only be used for 150 days/year by how much would it lose or gain if the company decided to rent instead of buying.