Set a linear equation for the following linearscenario to answer the questions:A new car costs $32,000, and the car's valuedepreciates linearly to $9,600 in three years.Explain the process to write a formula thatexpresses the car's value, V, in terms of its age, t,in years. What is the car's value in 5 years? At whatpoint is the formula useless? Explain.