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A state is constantly saving 40% of its output and its capital is constantly depreciating at a 30% rate. The stock of capital on 1

A state is constantly saving 40% of its output and its capital is constantly depreciating at a 30% rate. The stock of capital on 1 January 2015 was $1,000 and output produced in 2015 was equal to $2,000. How much is the stock of capital worth on 1 January 2016?

A. $1,500

B. $1,800

C. $1,400

D. $2,000

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