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 sum of the years' digits method, depreciation for 2022 and book value at December 31, 2022, would be: Multiple Choice $13,500 and $13,500 respectively. $13,500 and $8,500 respectively. $12,000 and $17,000 respectively. $12,000 and $12,000 respectively