A new minivan was purchased for $24,400 and currently has an end-of-year book value of $20,081.20 after

Question:

A new minivan was purchased for $24,400 and currently has an end-of-year book value of $20,081.20 after one year of operation. Find the year's rate of I depreciation. What will be the end-of-year book value of this minivan after two years if the rate of depreciation remains the same and depreciation is based I on the purchase price?