On April 30, Year 1, Tilton Products purchased machinery for $55,000. The useful life of this machinery is estimated at 8 years, with an $5,000 residual value. Tilton uses a calendar year-end for financial reporting, Assume that in its financial statements, Titon Products uses the 200%-declining-balance method and the half-year convention. Depreciation expense in Year 1 and Year 2 will be Multiple Choice $13,780 in Yeart and $12.031 in Year 2 $6.875 in Year 1 and 513,750 in Year 2 56.875 in Yeart and $12.031 in You 2 st2.750 in Year 1 and $10.313 in Year 2