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Kansas Enterprises purchased equipment for $78,000 on January 1,2024 . The equipment is expected to have a ten-year service life, with a residual value of

image text in transcribed Kansas Enterprises purchased equipment for $78,000 on January 1,2024 . The equipment is expected to have a ten-year service life, with a residual value of $8,550 at the end of ten years. Using the straight-line method, depreciation expense for 2025 and the book value at December 31, 2025, would be: Multiple Choice $6,945 and $64,110, respectively. $6,945 and $55,560, respectively. $7,800 and $62,400, respectively. $7,800 and $53,850, respectively

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