0.5 points Save As On January 1 Year 1, Jing Company purchased office equipment that cost $16,000 cash. The equipment was delivered under forms FOB shipping point and transportation cost was $2,100. The equipment had a five-year useful life and a $5.480 expected salvage value Assuming the company uses the double-declining balance depreciation method, what are the amounts of depreciation expense and accumulated depreciation, respectively, that would be reported in the financial statements prepared as of December 31, Yoar 3? $1,036 and $5,480 $3,542 and $20,142 $5.904 and $15.744 $0 and $16,600 None of the above