On January 1, 2022, Stock, Incorporated purchased a machine costing $41,900. Stock also paid $1,950 for transportation and installation. The expected useful life of the machine is 5 years and the residual value is $5,950. If Stock uses the straight-line depreciation method, which of the following statements is incorrect? The December 31, 2024 accumulated depreciation balance is $22,740. All of the statements are true. The December 31, 2022 book value is $36,270. The December 31, 2023 book value is $22,740. The annual depreciation expense is $7,580