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The scrap value of a machine at the end of its useful life is given by S ( n ) = C ( 1 -

The scrap value of a machine at the end of its useful life is given by S(n)=C(1-r)^n where C is the original cost, n is the useful life of the machine in years, and r is the constant annual percentage of value lost. Find the scrap value of the following machine. Original cost, $51,000 life, 8 years, annual rate of value lost 14%. What does S=?

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