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For accounting purposes, the value of assets (land, buildings, equipment) in a business are depreciated at a set rate per year. The value, V(t) of $537,000 worth of assets after t years, that depreciate at 17% per year, is given by the formula V(t) = Vo(b)t. What is the value of Vo and b, and when rounded to the nearest cent, what are the assets valued at after 9 years?
a
Vo = $537,000, b = 0.17, and the value after 9 years is $0.45
b
Vo = $537,000, b = 0.83, and the value after 9 years is $100,386.92
c
Vo = $537,000, b = 1.17, and the value after 9 years is $98,291.76
d
Vo = $537,000, b = 0.83, and the value after 9 years is $91,290.00
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