It is determined that the value of a piece of machinery declines exponentially. A machine that was purchased 3 years ago for $74000 is worth $42000 today. What will be the value of the machine 6 years from now? Round any intermediate calculations to at least four decimal places, and round your answer to the nearest cent.
It is determined that the value of a piece of machinery declines exponentially. A machine that was purchased 3 years ago for $74000 is worth $42000 today. What will be the value of the machine 6 years from now? Round any intermediate calculations to at least four decimal places, and round your answer to the nearest cent.
Chapter9: Capital Budgeting And Cash Flow Analysis
Section9.A: Depreciation
Problem 1P
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It is determined that the value of a piece of machinery declines exponentially. A machine that was purchased 3 years ago for $74000 is worth $42000 today. What will be the value of the machine 6 years from now? Round any intermediate calculations to at least four decimal places, and round your answer to the nearest cent.
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