1. Anna purchased a vehicle six years ago for $20,000. She recently sold it for $5,000. Over the years, she paid a total of $6,000 on auto insurance, $4,800 on gas and maintenance, and $2,000 in interest. What was her depreciation cost on this vehicle? Provide your calculations, explain your answer.

1. Haun and Mei have a home valued at $100,000 and an outstanding mortgage of $50,000. If their lender is willing to provide a home equity loan of up to 85% of market value, how much could they borrow using a home equity loan? Provide your calculations, explain your answer.