Suppose a Tractor Purchased at a Price of $60,000 Is

Short Answer

Suppose a tractor purchased at a price of $60,000 is to be depreciated by the double declining-balance method over a 10-year period. It can be shown that the rate at which the book value will be decreasing is given by dollars/year at year . Find the amount by which the book value of the tractor will depreciate over the first 5 years of its life. Please round the answer to the nearest cent.
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