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 double$-$declining$-$balance method, depreciation for $2024$ and the book value on December $31,2024,$ would be:

Multiple Choice

$$26,400$ and $$45,600,$ respectively.

$$26,400$ and $$39,600,$ respectively.

$$28,800$ and $$43,200,$ respectively.

$$28,800$ and $$37,200,$ respectively.