Please answer the following question: The Chester Company has just purchased $40,900,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,090,000. What will the accumulated depreciation expense for this purchase (exclude all other plant and equipment) be after its second year of use? (Use FASB GAAP)

Select: 1

$35,446,667

$32,720,000

$35,992,000

$31,902,000