Answer:
The correct option is, Exponential Decay, $23,914.85.
Step-by-step explanation:
A farmer buys a tractor for $50,000.
It is provided that the the tractor depreciates 10% per year.
The exponential function for decay is:
[tex]y=a\cdot (1-r\%)^{t}[/tex]
Here,
a = initial value
r = decay rate
t = time
Compute the value of the tractor in 7 years as follows:
[tex]y=a\cdot (1-r\%)^{t}[/tex]
 [tex]=50000\times (1-0.10)^{7}\\\\=50000\times 0.4782969\\\\=23914.845\\\\\approx 23914.85[/tex]
Thus, the correct option is, Exponential Decay, $23,914.85.
