Jing Company was started on January $1,$ Year $1$ when it issued common stock for $$52,500$ cash. Also, on January $1,$ Year $1$ the company purchased office equipment that cost $$35,000$ cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $$3,000.$ The equipment had a five$-$year useful life and a $$12,500$ expected salvage value.

Using double$-$declining$-$balance depreciation, what is the amount of depreciation expense and the amount of accumulated depreciation, respectively, that would appear on the December $31,$ Year $3$ financial statements?

Multiple Choice

$$ $$0$ and $$25,500$

$$5,472$ and $$29,792$

$$ $$1,180$ and $$25,500$

$$ $$9,120$ and $$24,320$