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Katie’s Construction Company has built a home in a new subdivision and it was sold 6 months after it was built, for $48,500. This amount reflected a depreciation amount of 3%. Knowing this, what was the original asking price on the home?

Respuesta :

Answer:

$50,000

Explanation:

Data provided in the question

Sale value of the home = $48,500

Depreciation rate = 3%

This amount is come after considering the depreciation rate

So, let us assume the sale price be 100 and after deducting the depreciation it came 97% i.e 100 - 3%

So, the original asking price on the home is

= $48,500 ÷ 97%

= $50,000

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