AMC 12 2002a Problem 11

Mr. Earl E. Bird gets up every day at 8:00 AM to go to work. If he drives at an average speed of 40 miles per hour, he will be late by 3 minutes. If he drives at an average speed of 60 miles per hour, he will be early by 3 minutes. How many miles per hour does Mr. Bird need to drive to get to work exactly on time?

$\text{(A)}\ 45 \text{(B)}\ 48 \text{(C)}\ 50 \text{(D)}\ 55 \text{(E)} 58$