23 3 pts Archie Co. purchased a framing machine for $60,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $5,000 at the end of four years. Using the double-declining-balance method, depreciation for 2021 and book value at December 31, 2021, would be: $30,000 and $30,000 respectively. $27,500 and $32.500 respectively. O $27,500 and $27,500 respectively. $30,000 and $25,000 respectively. Question 24 2.5 pts An asset was acquired on January 1, 2021, for $29,000 with an estimated four-year life and $3,000 residual value. The company uses straight-line depreciation. Calculate the gain or loss if the asset was sold on December 31, 2023, for $10,400, $5,600 loss O $900 loss. O $900 gain $3,900 gain