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Cutter Enterprises purchased equipment for $60.000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value $8400. Using

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Cutter Enterprises purchased equipment for $60.000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value $8400. Using the straight-line method, depreciation for 2017 and the equipment's book value at December 31, 2017. would be: $12,000 and $48,000. $10.320 and $30.960. $24.000 and $36.000. $10.320 and $39.360

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