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Lima Enterprises purchased a depreciable asset for $24,000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its

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Lima Enterprises purchased a depreciable asset for $24,000 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 $2,400, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice $21,600 $14,850 $18,000 $5,400 $4,500

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