Lima Enterprises Purchased a Depreciable Asset for $22,000 on April

Multiple Choice

Lima Enterprises purchased a depreciable asset for $22,000 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 $2,000,what will be the amount of accumulated depreciation on this asset on December 31,Year 3?

A) $5,000
B) $15,000
C) $15,125
D) $20,000
E) $13,750