Answer:
$ 77,198.22
Step-by-step explanation:
The value depreciates 14% per year, it means that for the first year, the value will be 0.86 of the initial value, the second year, 0.86 of the first, so 0.86x0.86 of it, and then successively. So, for t years:
[tex]V(t) = 300,000*(0.86)^t[/tex]
V(9) = 300,000*(0.86)⁹
V(9) = $ 77,198.22
