4) Peavey Enterprises purchased a depreciable asset for $23,000 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 $2,200, what will be the amount of accumulated depreciation on this asset on December 31, Year 3 ? A) $5,200 B) $17,333 C) $14,300 D) $20,800 E) $4,333 5) Merchant Company purchased land for a building site. The costs associated with the property were: What is the total recorded cost of the land? A) $187,700 B) $200,700 C) $200,000 D) $185,000 E) $206,700