Answer:
$26,986.29
Explanation:
We can use the formula for calculating the depreciation of an asset over time:
wor

where:
D= the current value of the asset
P = the initial purchase price of the asset
r = the annual depreciation rate as a decimal
t = the number of years the asset has been in use
In this case, we have:
P = $39,600
r = 12% = 0.12
t = 3 years
Substituting these values into the formula, we get:

Therefore, the car is worth approximately $26,986.29 after 3 years of depreciation at a rate of 12% per annum.