CNBC reported that one in five consumers who purchase bitcoin do so using their credit card. Melissa Gamez purchased a used RV with $19,000$ miles for $$46,900.$ Originally the RV sold for $$70,000$ with a residual value of $$20,000.$ After subtracting the residual value, depreciation allowance per mile was $$0\mathrm{.}86.$

Used RV miles $19,000$

Used RV price $$46,900$

Original RV price $$70,000$

Original RV residual value $$20,000$

Depreciation allowance per mile $$0\mathrm{.}86$

Required:

Use the above information to answer the following:

Note: Use cells A$4$ to B$8$ from the given information to complete this question.

$1.$ What is the book value of the RV being purchased?

$2.$ How much was Melissa$$s purchase price over or below the book value?

$3.$ Does she have any equity that might assist her with purchasing bitcoin?

Yes, she has equity

No$,$ she doesn't have equity