A contractor buys a new truck for $23,000. The truck is purchased on January 1 and is

Question:

A contractor buys a new truck for $23,000. The truck is purchased on January 1 and is expected to last 5 years, at the end of which time its trade-in, or salvage, value will be $4500. If the company figures the decline or depreciation in value to be the same each year, then the V, after t years, is given by the linear function
V(t) = $23,000 - $3700t, for 0 ≤ t ≤ 5.
(a) Graph V.
(b) Find V(0), V(1), V(2), V(3), and V(5).
(c) Find the domain and the range of this function.
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...