Algebra-1

Question Analysis
This question assesses the student's understanding of exponential decay over a longer period. The student must apply the depreciation formula and round the result to the nearest dollar.

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