A carpet company purchased a new loom for $124,000. For income tax purposes, company accountants will use the straight-line depreciation equation y = -15,500x + 124,000 to describe the declining value of the loom. a. When will the value of the loom be one-half of its purchase price? b. When will the loom have no value? Solution Verified Step 1 1 of 4 Given the equation $y=-15,500x + 124,000$ to describe the declining value of a$124,000-loom,

\text Let:$y$= the value of the loom \$x$= time that the loom will depreciate \

\text Determine: \ \textbf {a. } When the value of the loom be$\dfrac{1}{2}$ its price.

$\textbf {b. }$ When the loom will have no value.

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