Lima Enterprises purchased a depreciable asset for $31,500 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 $3,900, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? Multiple Choice $23,000 $18,975 $27600 $5.750 $6,900