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The initial value is the y-coordinate of the y-intercept, which is when x = 0. From the graph, we see that the y-intercept is (0,1), so the initial value is 1.
The rate of change is determined by the slope of the line. From the graph, we can see that as x increases by 1, y decreases by 1. Therefore, the rate of change is -1.
So, the initial value is 1, and the rate of change is -1.