On April 30, 2009, Titon Products purchased machinery for $220,000. The useful life of this machinery is estimated at 8 years, with an $20,000 residual value. Required information 4.00 points 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 O $18,750 in 2009 and $27,500 in 2010. O $15,000 in 2009 and $30,000 in 2010 O $12,500 in 2009 and $25,000 in 201o O $27,500 in 2009 and $13,750 in 2010. 13. Required information 4.00 points Refer to the information above. Assume that in its financial statements, Tilton Products usesthe 200%- declining-balance method and the half year convention. Depreciation expense in 2009 and 2010 will be: O $27,500 in 2009 and $48125 in 2010. O $55,000 in 2009 and $48,125 in 2010. $55,000 in 2009 and $41.250 in 201o $27,500 in 2009 and $55,000 in 2010