A Certain Piece of Machinery Was Purchased 5 Years Ago

question 33

Short Answer

A certain piece of machinery was purchased 5 years ago by Garland Mills for $400,000. Its present resale value is $256,000. Assuming that the machine's resale value decreases exponentially, what will it be 2 years from now? Round your answer to the nearest dollar.
​
$__________

---

Definitions:

Supply Curve

A graphical representation of the relationship between the price of a good or service and the quantity supplied.

Demand

The level of demand for goods or services that customers are prepared and can afford across a range of prices within a certain period.

Price Change

A fluctuation in the cost of a good or service in the market.

Decrease in Quantity

A reduction in the amount or number of a particular good or service.