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

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,Peavey Enterprises should recognize depreciation expense in Year 2 in the amount of:

A) $10,000
B) $5,000
C) $5,500
D) $20,000
E) $9,250