Cutter Enterprises purchased equipment for $75,000 on January 1, 2024. The equipment is expected to have a five-year. ife and a residual value of $3,000. Using the double-declining-balance method, depreciation for 2024 and the book value on December 31,2024 , would be: Multiple Choice $30,000 and $42,000, respectively. $28,800 and $46,200, respectively. $28,800 and $46,200, respectively. $30.000 and 545.000 , respectively