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, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of:

A.) $5,875.00

B.) $4,416.67

C.) $21,200.00

D.) $5,300.00

E.) $20,316.67