Cutter Enterprises purchased equipment for $66,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,000. 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

$16,000 and $24,000 respectively.

$16,000 and $30,000 respectively.

$17,600 and $20,400 respectively.

$17,600 and $26,400 respectively.