Cutter Enterprises purchased equipment for $96,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,100 Using the double-declining-balance method, depreciation for 2021 and the book value at December 31, 2021. would be: Multiple Choice $38,400 and $57,600 respectively $35,160 and $60,840 respectively $38,400 and $49,500 respectively, Multiple Choice $38,400 and $57,600 respectively, $35,160 and $60,840 respectively. $38,400 and $49,500 respectively. $35,160 and $55,740 respectively