Seved Help Save & Exit Submit General Electric Company (GE) purchased an automated framing machine for $48,000 on January 1, 2024. GE expects the machine to have a 4-year life. with a residual value of $3,000 at the end of four years. GE uses the straight-line method: depreciation for 2024 and book value on December 31, 2024, would be Multiple Choice $12,000 and $33.000, respectively. $11,250 and $36,750, respectively. $12,000 and $36,000, respectively. $11.250 and $33,750, respectively.