A taxi driver buys a new car for $50,000. The car will have

Last updated: 7/9/2022

A taxi driver buys a new car for $50,000. The car will have a scrap value of $10,000 after 8 years. Using the straight-line depreciation method, find the value of the car after 4 years. (A) $10,000 (B) $13,000 (C) $15,000 (D) $25,000 (E) $30,000