Cutter Enterprises purchased equipment for $81,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $3,900. Using the double-declining balance method, depreciation for 2018 and the book value at December 31, 2018, would be: Multiple Choice $30,840 and $46,260 respectively. $32,400 and $48,600 respectively $32.400 and $44,700 respectively $30,840 and $50 60 respectively