Chapter 1.2, Problem 76E

Business-Depreciation. A charter fishing company buys a new boat for $\text{\$224,000}$ and assumes that it will have a trade-in value of $\text{\$115,200}$ 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 $\text{\$100,000?}$

(D) Graph $V$ for $0\le t\le 30$ and illustrate the answers from (B) and (C) on the graph.