Problem No. 3 A car rental company buys each of their cars for $23,000. Each car is expected to be in service for 3 years. As the car ages and becomes less desirable the number of days in the subsequent years that it is rented is 20% less than in the previous year. The net gain on each rental is $$43. How many days does the car have to rented in the first year to recoup the initial investment if they can sell the car after 3 years for $9500. Their expected return on investment is 15% per year. (2.5 points)