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Matt Simpson owns and operates Quality Craft Rentals, which offers canoe rentals and shuttee service an the Nantahala River Customers can rent canoes at one

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Matt Simpson owns and operates Quality Craft Rentals, which offers canoe rentals and shuttee service an the Nantahala River Customers can rent canoes at one station, enter the river there, and exit at one of fwo designated locations to ciatch a shutile that. returns them to their vehicles at the station they entered. Following are the costs involved in providing this secvice each year Quality Craf Rentals began business with a $26.500 expendture for a neet of 30 canoes. These are expected to last to more years, at which time a new fleet must be purchased. Rentals have been stable at about 6.700 per year Required: Matt is happy with the steady rental average of 6,700 per yeat. For this number of rentais, what price should he charge per rental for the 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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