Sam Tucker is a sales engineer at Buford Chemical Engineering Company. Sam owns two vehicles, and one of them is entirely dedicated to business use. His business car is a used small pickup truck,...

Sam Tucker is a sales engineer at Buford Chemical Engineering Company. Sam owns two vehicles, and one of them is entirely dedicated to business use. His business car is a used small pickup truck, which he purchased with $11,000 of personal savings. On the basis of his own records and with data compiled by the U.S. Department of Transportation, Sam has estimated the costs of owning and operating his business vehicle for the first three years as follows:

If his interest rate is 6%, what should be Sam’s reimbursement rate per mile so that he can break even?