Question - Peach Ltd purchased a machine for $32,000 on 1 January 2011. The machine is expected to have a life of four years and no salvage value. The financial year ends on 31 December. The straight-line method of depreciation is employed. What will be the balance of the Accumulated Depreciation account at 31 December 2013?
a. $24,000
b. $27,750
c. $31,500
d. $16,000