Kansas Enterprises purchased equipment for $60,000 on January 1, 2012. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. Using the straight-line method, depreciation expense for 2013 and the book value at December 31, 2013 would be: a. $12,000 and $36,000. b. $12,000 and $31,000. c. $11,000 and $33,000. d. $11,000 and $38,000.