Absco, Inc. 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 straight-line method, depreciation for 2021 and book value at December 31, 2021, would be: $13,750 and $41,250 respectively. $13,750 and $46,250 respectively. $15,000 and $45,000 respectively. $15.000 and $40.000