1. On April 30, 2009, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value. Refer to the information above. Assume that in its financial statements, Tilton Products uses straight-line depreciation and the half-year convention. Depreciation expense recognized on this machinery in 2009 and 2010 will be: A) $5,000 in 2009 and $10,000 in 2010. B) $5,500 in 2009 and $11,000 in 2010 C) $6,000 in 2009 and $12,000 in 2010. D) $7,500 in 2009 and $11,000 in 2010. 2. On April 30, 2009, Tilton Products purchased machinery for $88,000. The useful life of this machinery is estimated at 8 years, with an $8,000 residual value. Refer to the information above. Assume that in its financial statements, Tilton Products uses straight-line depreciation and the half-year convention.Refer to the information above. Assume that in its financial statements, Tilton Products uses straight-line depreciation and rounds depreciation for fractional years to the nearest month. Depreciation expense recognized on this machinery in 2009 and 2010 will be: A) $5,833 in 2009 and $10,000 in 2010. B) $6,667 in 2009 and $10,000 in 2010. C) $10,000 in 2009 and $10,000 in 2010. D) $2,333 in 2009 and $7,000 in 2010