GMAT Problem Solving (PS) | In 1994, Kenneth’s annual salary was 30 percent higher than it was in

In 1994, Kenneth’s annual salary was 30 percent higher than it was in 1993. In 1995, Kenneth’s annual salary was reduced to 104 percent of his 1993 annual salary. Kenneth’s 1995 annual salary was what percent less than his 1994 annual salary?

A. 16%
B. 20%
C. 24%
D. 26%
E. 28%

Can someone please help me with this problem. I am not understanding the second sentence of the question. Thank you in advance

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