Jing Company was started on January 1, Year 1 when it issued common stock for $40,000 cash. Also, on January 1, Year 1 the company purchased office equipment that cost $18,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,500. The equipment had a five-year useful life and a $6,500 expected salvage value. Using double-declining-balance depreciation, what 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 $3,888 and $21,388. $880 and $14,000 Multiple Choice $3,888 and $21,388. $880 and $14,000 $6,480 and $17,280. $0 and $17,500