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

Lomax Enterprises purchased a depreciable asset for $24,000 on March 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, Lomax Enterprises should recognize depreciation expense in Year 2 in the amount of:

$21,600.00
$4,500.00
$6,000.00
$20,700.00
$5,400.00

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