The market value of the forklift decreases

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A forklift can be purchased for $30,000. The market value of the forklift decreases by 20% of the previous year’s value for 2 years, and then by 15% in years 3 through 10. Maintenance is $400 in years 1 and 2, and then jumps to $750 in year 3. After year 3 the maintenance costs increase by $200/yr each year until year 1. Plot the marginal cost of this fork lift as a function of year. For full credit, show all work, complete a table on excel, and label the graph appropriately.  

Reference no: EM13996424

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