The School of Business, Mombasa Campus has purchased a new van for sh. 6.8 million. The University of Nairobi transport manager states that the van will be depreciated using straight line method. At the end of 19 years, the van will be sold with an expected salvage value of sh. 1,100,000.

Required

(i) Determine the function v = a + bt which expresses the book value of the van v as a function of its age. (5 marks)

(ii) What will be the book value of the van after 13 years? (2 marks)

(iii) After how long will the book value of the van be sh. 4.222 million?