James bought a new car for $16,000 in december 2000. the car was worth $7,000 in december 2013. assuming a constant annual rate of decrease in value, what was the value of the car in december 2006? [hint: use the formula v=c(1-r)^1]

a.) $10,925
b.) $11,154
c.) $10,252
d.) $9,455

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