Question: *Please show me the formula or the step by step process on how you retrieve these answers. Thank you. In 2010 a home builder purchased

*Please show me the formula or the step by step process on how you retrieve these answers. Thank you.

In 2010 a home builder purchased construction machinery at a cost of $300,000. The

machinery is linearly depreciated over 12 years with a scrap value of $30,000.

a) What is the rate of depreciation of the machinery per year?

b) Find an expression for the value of the machinery in year t.

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