A tractor costs $14,340 and depreciates in value by 45%. How much is the tractor worth?

Question

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Answer 1

The depreciation value can be found by multiplying the original cost of the tractor ($14,340) by 45%:

Depreciation = $14,340 * 0.45
Depreciation = $6,453

Therefore, the tractor is worth:

$14,340 - $6,453
$7,887

So, the tractor is worth $7,887 after depreciating by 45%.