Decrease in price is $2,444 and price of the next model is $49,556.
Calculating the decrease in price:
Decrease in price = Current model price* decrease %/100%
Decrease in price = (52000)(4.7%/100%) = (52000)(0.047)
Decrease in price = 2444
Decrease in price is $2,444.
Calculating the price of the next model:
Price next model = previous model price - decrease in price
Price next model = $52,000 - $2,444
Price next model = $49,556
