Depreciation, SMB-004

A new electric vehicle costs $46 000 and is depreciated using the reducing balance method by 15% of its value each year.

Find its value after four years, giving your answer to the nearest dollar. (2 marks)

--- 4 WORK AREA LINES (style=lined) ---

Show Answers Only

`$24\ 012`

Show Worked Solution

`V_o = 46\ 000,\ \ \ r = 15% = 0.15,\ \ \ n = 4`