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Peavey Enterprises purchased a depreciable asset for $24,500 on April 1, Year 1. The asset...

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Accounting

Peavey Enterprises purchased a depreciable asset for $24,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $2,500, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of:

$21,083.33

$4,583.33

$6,125.00

$5,500.00

$22,000.00

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