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Peavey Enterprises purchased a depreciable asset for $ 2 4 , 5 0 0 on April 1 , Year 1 . The asset will be

Peavey Enterprises purchased a depreciable asset for $

24, 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 $

2, 500,

what is Peavey Enterprises should recognize depreciation expense in the amount in Year

2

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