A wire of length l, mass m and resistance R slides without any friction, down the parallel conducting rails of negligible resistance (see figure). The rails are connected to each other at the bottom by a resistanceless rail parallel to the wire so that the wire and the rails form a closed rectangular conducting loop. The plane of the rails makes an angle θ with the horizontal and a uniform vertical magnetic field of induction B exists throughout the region. Find the steady state velocity of the wire.