Archie Co. purchased a framing machine for $56,000 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 double-declining-balance method, depreciation for 2022 and book value at December 31, 2022, would be: Multiple Choice $14,000 and $9,000 respectively. $12,750 and $5,000 respectively. $12,750 and $43,250 respectively. $14,000 and $14,000 respectively.