Business—Depreciation. A charter fishing company buys a new boat for $224,000 and assumes that it will have a trade in value of $115,200 after 16 years.
(A) Find a linear model for the depreciated value V of the boat t years after it was purchased.
(B) What is the depreciated value of the boat after 10 years?
(C) When will the depreciated value fall below $100,000?
(D) Graph V for 0 ≤ t ≤ 30 and illustrate the answers from (B) and (C) on the graph.
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