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Need Help: Peavey Enterprises purchased a depreciable asset for $30,500 on April 1, Year 1. The asset will be depreciated using the straight-line method over

Need Help:

Peavey Enterprises purchased a depreciable asset for $30,500 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 $3,700, what will be the amount of accumulated depreciation on this asset on December 31, Year 3?

Multiple Choice

A. $5,583

B. $22,333

C. $6,700

D. $26,800

E. $18,425

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