Lima Enterprises purchased a depreciable asset for $29,000 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 $3400, what will be the amount of accumulated depreciation on this asset on December 31, Year 3?
A. $5333.33
B. $25,600
C. $21,333.3333
D. $6400
E. $17,600
Answer: E
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