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Cutter Enterprises purchased equipment for $66,000 on January 1, 2021. The equipment is expected to...

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Cutter Enterprises purchased equipment for $66,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $8,400. Using the double declining balance method, depreciation for 2021 and the book value at December 31, 2021, would be: Multiple Choice $26.400 and $39.600 respectively $23,040 and $37,560 respectively. $26,400 and $31,200 respectively $23040 and $42.960 respectively. Broadway Ltd purchased equipment on January 1, 2019, for $630,000, estimating a seven-year useful life and no residual value in 2019 and 2020, Broadway depreciated the asset using the straight-line method in 2021, Broadway changed to sum of years' digits depreciation for this equipment. What depreciation would Broadway record for the year 2021 on this equipment? (Do not round your depreciation rate.) Multiple Choice $75,000 $150.000 O $180,000 $90.000

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