Depreciation Chao bought a boat for $\mathrm{HK} \$ 160000$ The value of the boat depreciates by $4 \%$ each year. (a) Work out the value of the boat at the end of 3 years. Give your answer correct to the nearest HKS.

Step 1 ：Calculate the final value of the boat using the formula: \(Final Value = Initial Value * (1 - Depreciation Rate)^{Number of Years}\)

Step 2 ：Plug in the values: \(Final Value = 160000 * (1 - 0.04)^3\)

Step 3 ：Calculate the final value: \(Final Value = 160000 * (0.96)^3\)

Step 4 ：Find the final value: \(Final Value = 141557.76\)

Step 5 ：Round the final value to the nearest HKS: \(\boxed{141558}\)