On July 1, 2023, Beef Co. (a calendar year end business) purchased equipment for $45,000 and placed it into service. The equipment has an estimated salvage value of $2,000 and a useful life of 4 years. What is the net book value of the equipment after Beef Co. records depreciation on December 31, 2023, assuming the business uses the double-declining balance method to compute depreciation? Group of answer choices $31,750 $22,500 None of these answers. $39,625 $33,750 $20,500On July 1, 2023, Sugar Inc. (a calendar year end corporation) purchased a patent for $375,000 with a legal life of 20 years. Management estimates that the patent has an estimated useful life of 10 years. Compute amortization expense that will be recorded as an adjustment on December 31, 2023