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 $3,300. Using the straight-line method, depreciation for 2022 and the equipment's book value at December 31, 2022, would be: Multiple Choice $22,800 and $34,200 respectively. $10,740 and $32,220 respectively. $10,740 and $35,520 respectively. $11,400 and $45,600 respectively.