The market value of a certain machine decreased by 30 percent of its purchase price each year. If the machine was purchased in 1982 for its market value of $8,000, what was its market value two years later?	Choose the correct choice from the following choices
A) $8,000
B) $5,600
C) $3,200
D) $2,400
E) $800
Market value in 1982= $ 8000   Market value in 1983 = $ 8000- ($ 8000 x 30/100) = 8000-2400= 
<gadget id="calculator">8000-2400</gadget>
<output>5_600</output>
$ 5600   Market value in 1984= Market value in 1983 - (30 % of $8000)= 5600-2400= 
<gadget id="calculator">5600-2400</gadget>
<output>3_200</output>
$3200   ANSWER:$3,200
<result>C</result>
The market value of a certain machine decreased by 30 percent of its purchase price each year. If the machine was purchased in 1982 for its market value of $8,000, what was its market value two years later?