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Using the sum-of-the years'-digits method, depreciation for 2022 and book value at December 31, 2022, would be: (Do not round Intermediate calculations.) Multiple Choice $16,200 and $14,200 respectively. $15,600 and $17,600 respectively. $15,600 and $15,600 respectively. $16,200 and $16,200 respectively. Doug Smith Industries purchased warehouses for $99 million (no residual value) at the beginning of 2018. The warehouses were being depreciated over a 10-year life using the sum-of-the-years'-digits method. At the beginning of 2021, management decided to change to straight-line. Ignoring taxes, the 2021 adjusting entry will include a debit to depreciation expense of: (Round your answer to 2 decimal places.): Multiple Choich $7.20 million $50.40 million $9.90 million $48.60 million On September 1, 2021, Hiker Shoes issued a $110,000, 8-month, noninterest-bearing note. The loan was made by Second Commercial Bank where the stated discount rate is 12%. Hiker's effective interest rate on this loan (rounded) is: (Do not round Intermediate calculations. Round your final answer to 2 decimal places.)