Two cars with the same purchase price are not worth the same amount at the end of the year. Some cars depreciate faster than others. A truck depreciates at 45% and a Jeep depreciates at 25% per year. Assume the initial purchase price is $19,000 and the total cost of ownership is $38,000. Use a spreadsheet to determine how much more the Jeep is worth in three years. 1. $3800
2. $10,400
3. $11,000
4. $11,400