MC Qu. 34 LO 11-02 Cutter Enterprises purchased equipment for... Cutter Enterprises purchased equipment for $87,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $4,200. Using the double-declining balance method, depreciation for 2016 and the book value at December 31, 2016, would be: MC Qu. 37 LO 11-02 Cutter Enterprises purchased equipment for... Cutter Enterprises purchased equipment for $51,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $3,900. Using the sum-of-the-years'-digits method, depreciation for 2016 and book value at December 31, 2016, would be (Do not round depreciation rate per year)