A painting is purchased for $500. If the value of the painting doubles every 5 years, then its value is given by the function V(t) = 500 • 2t/5, where t is the number of years since it was purchased and V(t) is its value (in dollars) at that time. What is the value of the painting 10 years after its purchase? $1,000
$1,400
$1,800
$2,000