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

Question 11

Multiple Choice

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

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