Peavey Enterprises purchased a depreciable asset for $23,500 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 $2,300, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice $4,417 $21,200 $14,575 $5,300 $17667