On his trip,Buddy drove 60 mph for 1 hour, 55 mph for 3 hours and 40 mph for 2 hours. What was the distance of Buddy trip?
2 answers:
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Answer:
ACV=$4,500
Step-by-step explanation:
We have that the actual cash value (ACV) is defined as:
Where:
actual cash value
replacement cost or purchase price of the item
expected life of the item
current life of the item
Then we have R=$6,000, C=5years, and to find the expected life of the item we can use the depreciating of the roof, then if the roof is depreciating $200 each year we just need to divide $4,000 by $200 to find the expected life of the roof:
Then the espected life of the roof is 20 years, with this result we have all the data, then:
Then the ACV is $4,500