The value of Jamey's boat after the first year of purchase is <u>$54,591.47</u>.
<h3>What is a reduction in value?</h3>
The change in the value of the new boat can be described as a reduction in value, which is akin to the depreciation of the initial value.
The reduction means that the value of the boat fell after the first year of use.
The reduction or change in value and the new value after the first year can be computed as follows:
<h3>Data and Calculations:</h3>
Purchase price = $61,014
Change in value after first year = -2/19
Change in value (dollars) = $6,422.53 ($61,014 x 2/19)
Value after the first year = $54,591.47 ($61,014 - $6,422.53)
Thus, the value of Jamey's boat after the first year of purchase is <u>$54,591.47</u>.
Learn more about reduction in the value of an asset at brainly.com/question/25806993
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