including tax

Assignment 5.2: Used Vehicles and Using Vehicles (continued) 7. A sport utility vehicle (SUV) sells for $34,200 and leases for $348 plus tax per month for a lease term of 24 months. A down payment of $3500 is required. The guaranteed residual value of the vehicle is $22 126. (4 marks) a) Calculate the value of the depreciated vehicle after two years. 349676x 24 onths 9354,24 b) How does the depreciated value of the vehicle after two years compare to the guaranteed residual value