Cutter Enterprises purchased equipment for $42,000 on January 1,2024 . The equipment is expected to have a five-year life and a residual value of $9,000. Using the sum-of-the-years'-digits method, depreciation for 2024 and book value on December 31, 2024, would be: Note: Do not round the depreciation rate per year. Multiple Choice $11,000 and $31,000, respectively. $14,000 and $19,000, respectively. $14,000 and $28,000, respectively. $11,000 and $22,000, respectively