Kansas Enterprises purchased equipment for $80,000 on January 1, 2021 The equipment is expected to have a five-year service life, with a residual value of $6,900 at the end of five years. Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022, would be 0.10 Multiple Choice $1.000 and $48.000 544,620 and 550.760 $16,000 and $41,100 $14.620 and $43.860