On April $30,$ Year $1,$ Tilton Products purchased machinery for $$44,000.$ The useful life of this machinery is estimated at $8$ years, with an $$4,000$ residual value. Tilton uses a calendar year$-$end for financial reporting.

Assume that in its financial statements, Tilton Products uses the $150\%-$declining$-$balance method and the half$-$year convention. Depreciation expense in Year $1$ and Year $2$ will be:

Multiple Choice

$$4,125$ in Year $1$ and $$7,477$ in Year $2.$

$$8,250$ in Year $1$ and $$8,250$ in Year $2.$

$$7,500$ in Year $1$ and $$6,844$ in Year $2.$

$$8,250$ in Year $1$ and $$7,477$ in Year $2.$