Peet's Coffee purchased manufacturing equipment for $300,000 on 1/1/2023. Peet's Coffee estimated that the equipment has a useful life of 12 years and a $30,000 residual value. Assume that Peet's Coffee calculates depreciation using the DOUBLE-DECLINING BALANCE method. The accumulated depreciation will be $____ as of 12/31/2024 (after two years), and 2024 Depreciation Expense will be $____?

A.) 12/31/24 Accumulated Depreciation = $82,500 2024 Depreciation Expense = $45,000

B.) 12/31/24 Accumulated Depreciation = $91,667 2024 Depreciation Expense = $91,667

C.) 12/31/24 Accumulated Depreciation = $82,500 2024 Depreciation Expense = $37,500

D.) 12/31/24 Accumulated Depreciation = $91,667 2024 Depreciation Expense = $41,667