Algebra-1

Question Analysis
This question tests the student's ability to apply the exponential decay formula to a real-world scenario. The student must calculate the value of an asset after a given period using the depreciation rate.

Key Concept Explanation
The key concept here is the formula for depreciation: , 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 depreciation formula:

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