Algebra-1

Question Analysis
This question tests the student's ability to apply the exponential decay formula to a real-world scenario involving depreciation.

Key Concept Explanation
Depreciation is a form of exponential decay where the value of an asset decreases at a fixed proportion each year. The formula used is , where is the remaining value, is the initial value, is the depreciation rate, and is the time in years.

Step-by-step Solution
1. Identify the given values: , , .
2. Substitute these values into the formula:

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