Peavey Enterprises purchased a depreciable asset for $29,000 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 $3,400, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice $5,333 $6,400 $25,600 $21,333