12)

LP Inc. purchases a piece of equipment on September 30, 2020. The equipment cost $70,000, has a salvage value of $10,000, a useful life of 10 years. How much depreciation expense will LP record for the equipment for the year ended December 31, 2021 under sum-of-years-digits and double-declining balance?

Group of answer choices

Sum-of-Years-Digits: 10,636 Double-declining balance: 9,600

Sum-of-Years-Digits: 9,818 Double-declining balance: 13,300

Sum-of-Years-Digits: 9,818 Double-declining balance: 9,600

Sum-of-Years-Digits: 10,636 Double-declining balance: 13,300