On April 30, 2017, Tilton Products purchased machinery for $44,000. The useful life of this machinery is estimated at 8 years, with an $4,000 residual value.

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 2017 and 2018 will be:

$3,333 in 2017 and $5,000 in 2018.

$2,667 in 2017 and $5,000 in 2018.

$5,000 in 2017 and $5,000 in 2018.

$2,000 in 2017 and $5,000 in 2018.