Archie Co. purchased a framing machine for $54,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $2,000 at the end of four years.

Using the double-declining-balance method, depreciation for 2021 and book value at December 31, 2021, would be:

• $27,000 and $27,000 respectively.
• $27,000 and $25,000 respectively.
• $26,000 and $28,000 respectively.
• $26,000 and $26,000 respectively.