Given:
Cost = 12,050
depreciation rate = 12%
<span>
<span>
</span><span><span>
year beginning value dep.rate depreciation ending value
</span>
<span>
1
<span> 12,050.00 </span>12%
<span> 1,446.00 </span>
<span> 10,604.00
</span>
</span>
<span>
2
<span> 10,604.00 </span>12%
<span> 1,272.48 </span>
<span> 9,331.52
</span>
</span>
<span>
3
<span> 9,331.52 </span>12%
<span> 1,119.78 </span>
<span> 8,211.74
</span>
</span>
<span>
4
<span> 8,211.74 </span>12%
<span> 985.41 </span>
<span> 7,226.33
</span>
</span>
<span>
5
<span> 7,226.33 </span>12%
<span> 867.16 </span>
<span> 6,359.17
</span>
</span>
<span>
6
<span> 6,359.17 </span>12%
<span> 763.10 </span>
<span> 5,596.07
</span>
</span>
<span>
7
<span> 5,596.07 </span>12%
<span> 671.53 </span>
<span> 4,924.54
</span>
</span>
<span>
8
<span> 4,924.54 </span>12%
<span> 590.94 </span>
<span> 4,333.60
</span>
</span>
<span>
9
<span> 4,333.60 </span>12%
<span> 520.03 </span>
<span> 3,813.56
The boat will be worth $3,813.56 after 9 years.
Depreciation = beginning cost x depreciation rate
Ending cost = beginning cost - depreciation
Depreciation is the wear and tear of an object that decreases its value.</span></span></span></span>
