On January 1, Year 1, Jing Company purchased office equipment that cost $35,625 cash. The equipment was delivered under terms free on board (FOB) shipping point, and transportation cost was $3,625. The equipment had a five-year useful life and a $12,910 expected salvage value. Assuming the company uses the double-declining-balance depreciation method, what are the amounts of depreciation expense and accumulated depreciation, respectively, that would be reported in the financial statements prepared as of December 31 , Year 3 ? Multiple Choice $0 and $26,340 $5,652 and $30,772 $9,420 and $25,120 $1,220 and $26,340