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 straight-line method, depreciation for 2022 and book value at December 31, 2022, would be: Multiple Choice $13,500 and $32,000 respectively. $14,750 and $24,500 respectively. $14,750 and $29,500 respectively. $13,500 and $27,000 respectively. Cutter Enterprises purchased equipment for $90,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,900. Using the straight-line method, the book value at December 31, 2021, would be: Multiple Choice $66,480 O $73,380 $65,100 $72,000 On January 1, 2021, Tabitha Designs purchased a patent for $330,000 giving it exclusive rights to manufacture a new type of synthetic clothing. While the patent had a remaining legal life of 15 years at the time of purchase, Tabitha expects the useful life to be only eight more years. In addition, Tabitha purchased equipment related to production of the new clothing for $150,000. The equipment has a physical life of 10 years, but Tabitha plans to use the equipment only over the patent's service life and then sell it for an estimated $20,000. Tabitha uses straight-line for all long-term assets. The amount to expense in 2024 related to the patent and equipment should be: Multiple Choice $57,500 O $38,000 $40,000 O $38,250