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A machine is assumed to depreciate 40% in value in the first year, 25% in the second year and 10% per annum for the next

A machine is assumed to depreciate 40% in value in the first year, 25% in the second year and 10% per annum for the next 3 years, each percentage being calculated on the diminishing value. What is the average percentage depreciation, reckoned on the diminishing value, for the 5 years?

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