Archie Company purchased a framing machine for $$58,000$ on January $1,2024.$ The machine is expected to have a four$-$year life, with a residual value of $$6,000$ at the end of four years.

Using the double$-$declining$-$balance method, depreciation for $2024$ and book value on December $31,2024,$ would be:

Multiple Choice

$$29,000$ and $$29,000,$ respectively.

$$26,000$ and $$26,000,$ respectively.

$$26,000$ and $$32,000,$ respectively.

$$ $$29,000$ and $$23,000,$ respectively.