Office equipment was purchased for $20,000 and is assumed to have a scrap value of $2,000 after 10 years

Business Jan 17, 2022

Office equipment was purchased for $20,000 and is assumed to have

a scrap value of $2,000 after 10 years. If its value is depreciated linearly(for tax purposes) from $20,000 to $2,000.
a.     Find the slope of the line joining the points associated with value and time.
b.     Find the linear equation that relates value(v) I dollars to time(t) in years.
c.      What would be the value of the equipment after 7 years.