A Carpet Company Purchased a New Loom for $280,000 $y = - 17,500 x + 280,000$

Multiple Choice

A carpet company purchased a new loom for $280,000. For income tax purposes, company accountants will use the straight-line depreciation model $y = - 17,500 x + 280,000$ to describe the declining value of the loom. When will the loom be one-half of its purchase price?

A) 4 years
B) 8 years
C) 12 years
D) 16 years