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Peavey Enterprises purchased a depreciable asset for $24,000 on April 1, Year 1. The asset will...

Peavey Enterprises purchased a depreciable asset for $24,000 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 $2,400, what will be the amount of accumulated depreciation on this asset on December 31, Year 3?

  • $4,500

  • $5,400

  • $18,000

  • $14,850

  • $21,600

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