Step 1: Use rate equation.
From the rate law, the rate of the reaction is related to the concentration of \( N_2O_5 \):
\[
\text{Rate} = k [N_2O_5]
\]
Substituting the given values for rate and rate constant, we find that the concentration of \( N_2O_5 \) is 0.04 M.
Thus, the correct answer is (3).