Answer: $132,376.96
Step-by-step explanation:
The cost of the boat was $170,000, but every year, the value depreciated by 8% and he bought the boat 2016.
In 2017, the boat depreciated by 8%,
8/100 * $170000 = $13,600.
$170,000 - $13600 = $156,400.
In 2018, the boat depreciated by 8%
8/100 * $156,400 = $12,512
$156,400 - $12,512 = $143,888
In 2019, the boat depreciated by 8%
8/100 * $143,888 = $11,511.04
$143,888 - $11,511.04 = $132,376.96
The current value of the boat is $132,376.96
