Peavey Enterprises purchased a depreciable asset for $27,000 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 $3,000, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? O $20,000 O $24,000 O $5,000 O $16,500 7 pts O $6,000

Year 3? $20,000 $24,000 $5,000 $16,500 $6,000