Rhonda bought a new laptop for $800. The laptop depreciates, or loses, 20% of its value each year. The value of the laptop at a later time can be found using the formula , where P is the original value, r is the rate of depreciation written as a decimal, and t is the number of years since it was purchased. What will the laptop be worth in two years?

In two years, the laptop will be worth $_____.