Peavey Enterprises purchased a depreciable asset for $26,000 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 $2,800, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of Multiple Choice O $6,500.00 $5.800.00 $4,833.33 A company purchased property for $100,000. The property included a building, a parking lot, and land. The building was appraised at $53,000; the land at $52,200, and the parking lot at $19,800. Land should be recorded in the accounting records with an allocated cost of Multiple Choice S52.200 SO $100,000 $41.760 A company purchased a delivery van for $34,000 with a salvage value of $4,000 on September 1. Year 1. It has an estimated useful life of 6 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1? Multiple Choice $1,889 $5.000 $5,667 $1667 A company purchased a weaving machine for $307,320. The machine has a useful life of 8 years and a residual value of $17.000. It is estimated that the machine could produce 764,000 bolts of woven fabric over its useful life in the first year, 112,000 bolts were produced. In the second year, production increased to 116,000 units. Using the units-of-production method, what is the amount of depreciation expense that should be recorded for the second year? Multiple Choice $44,080 $45,052 $42.560 A company discarded a computer system originally purchased for $8,700 The accumulated depreciation was $6,500. The company should recognize a (an): Multiple Choice So gain or loss O $2.200 loss $2.200 gain 58.700 gain