Kansas enterprises purchased equipment for $60,000 on january 1, 2018. the equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. using the straight-line method, depreciation expense for 2019 and the book value at december 31, 2019 would be: select one:
a. $11,000 and $33,000.
b. $12,000 and $36,000.
c. $12,000 and $31,000.
d. $11,000 and $38,000.

Rosie and her brother michael decided recently to purchase an rv together. they both want to use the rv to take their families camping. the price of the rv was $10,000. since michael expects to use the rv 60% of the time and rosie 40% of the time, michael contributed $6,000 and rosie contributed $4,000. their ownership percentage equals their contribution percentage. which type of property titling should they use to reflect their ownership interest?