14 Kansas Enterprises purchased equipment for $77,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,050 at the end of ten years. Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022, would be: & 02:44:01 Multiple Choice $7,045 and $56,360. $7,750 and $54,950. O $7,750 and $62,000. $7,045 and $63,410