For each one-year period after a car was purchased, its value at the end of the year was 12% less than its value at the beginning of the year. The equation y= p(0.88)^4 can be used to model the value of the car 4 years after purchase.
If the value of a car 4 years after it was purchased is $15,832, what was the value of the car when it was purchased?
Round your answer to the nearest dollar.