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QUESTION
A farmer buys a harvester for $50,000 and estimates its useful life to be 20 years, after which its scrap value will be $6000.
A farmer buys a harvester for $50,000 and estimates its useful life to be 20 years, after which its scrap value will be $6000.
a. Use the formula below to find the value V of the harvester after t years for 0<=t>=20
Value = price - (price - scrap value) . t / useful timelife
Time Value147800245600343400441200539000636800734600832400930200102800011258001223600132140014192001517000161480017126001810400198200206000