Jing Company was started on January 1, Year 1 when it issued common stock for $50,000 cash. Also, on January 1. Year 1 the company purchased office equipment that cost $34,000 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $2,000. The equipment had a five-year useful life and a $12,000 expected salvage value At the end of Year 5, assuming the equipment had not been sold, the book value of the office equipment using straight- line depreciation and double-declining balance depreciation, respectively, would be: Multiple Choice $0 and $0. $12,000 and $1,680 None of these answer choices are correct. $12,000 and $12,000