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 $4,500. 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 $17,600 and $21,900 respectively. $16,400 and $24,600 respectively. $16,400 and $29,100 respectively. $17,600 and $26,400 respectively