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posted by Anonymous .
A car was purchased for $10,000 with a salvage value of $4000. It is expected to have a useful life of 5 years. Using the sumofyears method, find the car's value in the first year after the purchase.

The car is expected to decrease in value $6,ooo in five years (10,000  4,000). How much is that per year? Then subtract the yearly depreciation from the purchase price to find the value at the end of the first year.
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