The value of a truck after t years is represented by the function f(t)=22,200(0.92)t .

What does the value 22,200 represent in this situation?



The value of the truck decreases by $22,200 each year.
The initial value of the truck is $22,200.
The value of the truck increases by $22,200 each year.
The value of the truck after t years is $22,200.