47) Cutter Enterprises purchased equipment for $72,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $6,000. Using the sum-of-the-years'-digits method, depreciation for 2018 and book value at December 31, 2018, would be: 47) ______ A) $22,000 and $44,000 respectively. B) $22,000 and $50,000 respectively. C) $24,000 and $42,000 respectively. D) $24,000 and $48,000 respectively.