Archie Co. purchased a framing machine for $45,000 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 2022 and book value at December 31, 2022, would be: Multiple Choice $10,000 and $20,000 respectively. $10,000 and $25,000 respectively. $11,250 and $17,500 respectively. $11,250 and $22,500 respectively