Cutter Enterprises purchased equipment for $57,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the sum-of-the-years'-digits method, depreciation for 2021 and book value at December 31, 2021, would be: (Do not round depreciation rate per year) Multiple Choice $16,200 and $40,800 respectively. $19,000 and $38,000 respectively. $19,000 and $29,600 respectively. $16,200 and $32,400 respectively