A Business Purchasing an Item for Business Purposes May Use

Essay

A business purchasing an item for business purposes may use straight-line depreciation to obtain a tax deduction. The formula for the present value, P, after t years is given below, where C is the cost and s is the scrap value after L years. The number L is called the useful life of the item.
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If a certain piece of equipment costs $8,100 and has a scrap value of $2,100 after 10 years, write an equation to represent the present value after t years.