The market value of a certain machine decreased by 20 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?
Select
A) $8,000	B) $5,600	C) $3,200	D) $2,400	E) $4,800
E.   Market value in 1982= $ 8000   Market value in 1983 = $ 8000- ($ 8000 x 20/100) = 8000-1600= 
<gadget id="calculator">8000-1600</gadget>
<output>6_400</output>
$ 6400   Market value in 1984= Market value in 1983 - (20 % of $8000)= 6400-1600= 
<gadget id="calculator">6400-1600</gadget>
<output>4_800</output>
$4800
<result>E</result>
The market value of a certain machine decreased by 20 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?