Help! Applied Calculus
Suppose a tractor purchased at a price of $60,000 is to be depreciated by the double declining-balance method over a 10-year period. It can be shown that the rate at which the book value will be decreasing is given by
R(t) = 13988.61e−0.22614t (0 ≤ t ≤ 10)
dollars/year at year t. Find the amount by which the book value of the tractor will depreciate over the first 7 years of its life. (Round your answer to the nearest dollar.)