Cutter Enterprises purchased equipment for $63,000 on January 1, 2021 The equipment is expected to have a five-year life and a residual value of $4,200 Using the sum-of-the-years-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round depreciation rate per year) Multiple Choice $15.680 and $23,520 respectively $16.800 and $25,200 respectively 516,800 and $21.000 respectively $15.680 and $27.720 respectively