An electric automobile can be purchased for $40,000. The automobile is estimated to have a life of 6 years with annual travel of 15,000 miles. After three years, a new set of batteries will have to be purchased at a net cost of $3,000. Annual maintenance of the vehicle is estimated to cost $500 per year. The cost of recharging the batteries is expected to increase your monthly electric bill by $25. The vehicle can be sold for $5,000 at the end of 6 years. If MARR is 12% per year compounded annually, what is the cost per mile to own and operate this vehicle?