Your Company Purchases a New Delivery Van For $\$ 56,000$ for Tax Purposes, the Van Will Be Depreciated Over

Multiple Choice

Your company purchases a new delivery van for $\$ 56,000$ . For tax purposes, the van will be depreciated over a seven year period. At the end of seven years, the value of the van is expected to be $7000 . Find a linear equation that relates the depreciated value of the van, y , to the number of years, t , since it was purchased.

A) $y = 56,000 + 7000 t$
B) $y = 7000 - 56,000 t$
C) $y = 56,000 - 49,000 t$
D) $y = 49,000 - 7000 t$
E) $y = 56,000 - 7000 t$