Question

The
number
of
years
n
for
a
piece
of
machinery
to
depreciate
to
a
known
salvage
value
can
be
found
using
the
formula
n
=
ln
푠
−
ln
푖
ln
(
1
−
d
)
where
푠
is
the
salvage
value
of
the
machinery
,
푖
is
its
initial
value
,
and
d
is
the
annual
rate
of
depreciation
.
(
i
)
How
many
years
will
it
take
for
a
piece
of
machinery
to
decline
in
value
from
$100
,
000
to
$10
,
000
if
the
annual
rate
of
depreciation
is
(
8
%
)
?
(
To
1
d
.
p
)

Answer 1

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