Answer:
Step-by-step explanation:
The said Reimbursement rate per mile : $ 0.35
At break-even,
Initial Investment = Present value of cash inflows
Initial investment : $ 11,000
Let the reimbursement rate per mile be r.
The Present value of the cash inflows at 7% discount rate

At the break even,
The Initial Investment = Present value of cash inflows

or

Therefore, the reimbursement rate per mile so that you can break even is $0.3473