Tep S&E Jing Company was started on January 1, Year 1 when R issued common stock for $45,000 cash. Also, on January 1, Year 1 the company purchased office equipment that com $18,500 cash. The equipment was delivered under terms FOB shipping point, and transportation cost was $3,000. The equipment had a five-year used life and a $7000 expected salvage value Using double-declining-balance depreciation, what the amount of depreciation expense and the amount of accumulated depreciation, respectively, that would appear on the December 31, Year 3 financial statements? Multiple Choice 50 and $7,000 $3.096 and $4.644 $5.160 and $7740 $740 and $7,000