Peavey Enterprises purchased a depreciable asset for $24,500 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 $2500, what will be the amount of accumulated depreciation on this asset on December 31, Year 3?
A. $18,333.3333
B. $15,125
C. $4583.33
D. $22,000
E. $5500
Answer: B
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Indicate whether the statement is true or false
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