A hospital purchases an ultrasound machine for $70,000 original cost. The hospital expects the useful life of the machine to be 15 years, at which time its value will have depreciated to $6,000 salvage value. The hospital uses the declining balances method for depreciation, the annual depreciation rate r is given by the formula r = 1-( In the formula above, n, is the useful life of the item (in years), S is the salvage value (in dollars), and C is the original cost (in dollars). What annual depreciation rate, r, did the hospital use? Round to the nearest hundredth. r= 96 Blank 1:
A hospital purchases an ultrasound machine for $70,000 original cost. The hospital expects the useful life of the machine to be 15 years, at which time its value will have depreciated to $6,000 salvage value. The hospital uses the declining balances method for depreciation, the annual depreciation rate r is given by the formula r = 1-( In the formula above, n, is the useful life of the item (in years), S is the salvage value (in dollars), and C is the original cost (in dollars). What annual depreciation rate, r, did the hospital use? Round to the nearest hundredth. r= 96 Blank 1:
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter2: Exponential, Logarithmic, And Trigonometric Functions
Section2.1: Exponential Functions
Problem 53E: Interest Ron Hampton needs to choose between two investments: One pays 6% compounded annually, and...
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Transcribed Image Text:A hospital purchases an ultrasound machine for $70,000 original cost. The hospital expects the useful life of the machine to be 15 years, at
which time its value will have depreciated to $6,000 salvage value. The hospital uses the declining balances method for depreciation, the
annual depreciation rate r is given by the formula r = 1 –I
In the formula above, n, is the useful life of the item (in years), S is the salvage value (in dollars), and C is the original cost (in dollars). What
annual depreciation rate, r, did the hospital use? Round to the nearest hundredth.
96
Blank 1:
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