A rental car company purchased a new Toyota Camry for $35,000. The company determined this asset should be depreciated for six years using the straight-line depreciation method. At the end of six years, the car will be worth $30,500.   Estimate the value of the car at Year 4.   Question 4 options:   $33,500   $32,000   $32,750   $11,667   $31,2

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter7: Applying Fractions
Section7.1: Ratios
Problem 21WE
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A rental car company purchased a new Toyota Camry for $35,000. The company determined this asset should be depreciated for six years using the straight-line depreciation method. At the end of six years, the car will be worth $30,500.

 

Estimate the value of the car at Year 4.

 

Question 4 options:

 

$33,500

 

$32,000

 

$32,750

 

$11,667

 

$31,2

Value of 2018 Toyota Camry Over Time
35500
35000
34500
A 34000
33500
33000
32500
32000
31500
31000
30500
30000
3
4
5
6.
7
Years Since Purchase
Value of Vehicle ($)
2.
Transcribed Image Text:Value of 2018 Toyota Camry Over Time 35500 35000 34500 A 34000 33500 33000 32500 32000 31500 31000 30500 30000 3 4 5 6. 7 Years Since Purchase Value of Vehicle ($) 2.
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