Cutter Enterprises purchased equipment for $72,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $12,000.

Using the sum-of-the-years'-digits method, depreciation for 2018 and book value at December 31, 2018, would be:

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

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

C) $20,000 and $52,000 respectively.

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