You decide to purchase a brand new car for $35,000. You trade it in 9 years later for $9,000. Assuming the car's valuedepreciates linearly, when was it worth $19,000 ? (Round answer to tenth of a year)

You decide to purchase a brand new car for $35,000. You trade it in 9 years later for $9,000. Assuming the car's valuedepreciates linearly, when was it worth $19,000 ? (Round answer to tenth of a year)

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter9: Capital Budgeting And Cash Flow Analysis

Section9.A: Depreciation

Problem 1P

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