Cutter Enterprises purchased equipment for $87,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $4,500. Using the double-declining-balance method, depreciation for 2024 and the book value on December 31, 2024, would be:

33,000 and 52,500 respectively

33,000 and 54,000 respectively

34,800 and 47,700 respectively

34,800 and 52,200 respectively