SOLUTION: a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years.
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Question 309270: a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! a piece of equipment costs $95,000 new but depreciates 14% per year in each succeeding year. find its value after 10 years.
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It retains 86% of its value each year.
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Value = 95000*(0.86)^10 = $21,023.65
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Cheers,
Stan H.
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