30 Archie Co. purchased a framing machine for $49,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $7,000 at the end of four years. Using the straight-line method, depreciation for 2021 and book value at December 31, 2021, would be: 8 01:01:37 Multiple Choice $10,500 and $38,500 respectively. O $12,250 and $29,750 respectively. $12,250 and $36,750 respectively. O $10,500 and $31,500 respectively