Cutter Enterprises purchased equipment for $$72,000$ on January $1,2024.$ The equipment is expected to have a five$-$year life and a residual value of $$6,000.$

Using the sum$-$of$-$the$-$years'$-$digits method, depreciation for $2024$ and book value on December $31,2024,$ would be:

Note: Do not round the depreciation rate per year.

Multiple Choice

$$22,000$ and $$44,000,$ respectively.

$$24,000$ and $$42,000,$ respectively.

$$22,000$ and $$50,000,$ respectively.

$$24,000$ and $$48,000,$ respectively.