Use the following information to answer the question Mitchell Corporation bought equipment on January 1, 2022. The equipment cost $120,000 and had an expected salvage value of $20,000. The life of the equipment was estimated to be 6 years. Straight-line depreciation was used The book value of equipment at the end of the fifth year would be approximately: a. $36,667 Ob. $16,667 c. $86,667 d. $70,000 e. $83,333 If Laron Corporation has 80,000 shares of common stock unissued, 50,000 shares of common stock issued, and holds 12,000 shares of common stock as treasury stock, the total number of authorized shares of Laron Corporation amounts to: Select one: a. 130,000 O b. 118,000 O c. 38,000 Od. 68,000 Oe. 42,000