. Salvage Value. A landscape company purchased a backhoe for $56,395. The value of the backhoe each year is 90% of the value of

Question

. Salvage Value. A landscape company purchased a
backhoe for $56,395. The value of the backhoe each
year is 90% of the value of the preceding year. After
t years, its value, in dollars, is given by the exponen-
tial function
V(t) = 56,395 (0.9)'.
I
a) Graph the function.
b) Find the value of the backhoe after 0, 1, 3, 6, and
10 years. Round to the nearest dollar.

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