Costco Inc acquired equipment for $25,000 on 4/1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. The equipment's salvage value is $2,600. Costco, at the end of year 2, records depreciation expense for that year in the amount of:
Multiple Choice
$21,466.67
$6,250.00
$22,400.00
$5,600.00
$4,666.67