A piece of machinery valued at $38,000 depreciates at a rate of 7% yearly. How long will it take until it has a value of $19,000? Please round the answer to the nearest tenth.
A) 11.9 years
B) 14.9 years
C) 12.9 years
D) 9.9 years
E) 8.9 years
Correct Answer:
Verified
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