Cutter Enterprises purchased equipment for $45,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,300. Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021, would be: O O O O $15,480 and $29,520 respectively. $18,000 and $20,700 respectively. $15,480 and $26,220 respectively. $18,000 and $27,000 respectively