Peavey Enterprises purchased a depreciable asset for $24,500 on April 1. Yeart. The asset will be depreciated using the straight line method over its four year useful fe. Assuming the asset's salvage value is $2,500, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of Multiple Choice $5.500.00 54.58333 56.125.00 O 521003:33 O 522 000.00