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Robert Lange 6Robert Lange 6 

formula field for Total Depreciation

I have 3 custom fields for my Property object: Purchase Date, Annual Depreciation and Total Depreciation.  I am writing a formula and here is a draft for the Total Depreciation field:
ABS(YEAR(TODAY())-YEAR(Purchase_Date__c))  * Annual_Depreciation__c

I want to revise the formula so that if the purchase date were 12/23/2018 and we were using 3/23/2020 as the current date, the time calculation would be more precise.  Under my current formula ABS(YEAR(TODAY())-YEAR(Purchase_Date__c)), the value returned is 2 years.  I would like it to be a more exact number (in this case 1.25 years).  Any help with the revised formula would be appreciated.