Archie Co. purchased a framing machine for $59,000 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 2021 and book value at December 31, 2021, would be: Multiple Choice $27,000 and $27,000 respectively. $29.500 and $29,500 respectively. $27,000 and $32,000 respectively. $29,500 and $24,500 respectively