On January 1, 2019, Woodstock, Inc. purchased a machine costing $40,800. Woodstock also paid $1,400 for transportation and installation. The expected useful life of the machine is 4 years and the residual value is $5,400. If Woodstock uses the straight-line depreciation method, which of the following statements is incorrect? Multiple Choice The December 31, 2019 book value is $33.000. The December 31, 2020 book value is $18.400. The December 31, 2021 accumulated depreciation balance is $27.600. The annual depreciation expense is $9.200