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A laborer purchases an excavator for $ 6 2 , 7 4 9 and its value is expected to depreciate by about 1 1 .

A laborer purchases an excavator for $

62, 749

and its value is expected to

depreciate by about

11.7 %

each year. How long will it take for its value to reach $

40, 000 ?

Round to the nearest

hundredth of a year.

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