In 2004, Troy bought a new boat for $23,500*The boat was worth 17,500 in the year 2010.

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Question:

In 2004, Troy bought a new boat for $23,500*The boat was worth 17,500 in the year 2010. If Troy knows that the value of the boat depreciated linearly, what was the annual rate of change of the boat's value? Round your answer to the nearest hundredth if necessary.