Peavey Enterprises purchased a depreciable asset for $26,500 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 $2,900, Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of: Multiple Choice $4,916.67 $6,625.00 $23,600.00 $5,900.00 $22,616.67