Parker company purchased an asset costing $34,000

Parker Company purchased an asset costing $34,000 on January 1 Yeart. The asset had an expected five year life and a $7000 salvage value. Based on thi Information, the amount of depreciation expense and accumulated depreciation appearing on the Year 2 financial statements would be (assume straight-line depreciation) Multiple Choice o $5.400 and $10,800, respectively, O $6,800 and $10,800, respectively O $6.800 and $23,200, respectively O $5,400 and $5,400, respectively