Given:
Purchased price = 28,000
Depreciated in 3 years = 48%
I am assuming that the 48% is the total depreciation of the truck for the past three years.
28,000 x 48% = 13,440 total depreciation for three years
28,000 - 13,440 = 14,560 worth of the car in three years, net of depreciation.
Additional info: A vehicle has a life-span of only 5 years. Thus, its depreciation will only be computed based on 5 years. After 5 years, the vehicle will be valued at zero because it has been fully depreciated.
