On May 22, 2020, Colossal Corporation purchased machinery for $80,000. The useful life of this machinery is estimated at 10 years, with a $10,000 residual value. (ii). Assume that Colossal uses the 200%-declining-balance method and the half-year convention. Depreciation expense will be: Select one: O a $14,000 in 2020 and $11,200 in 2021 O b. $7,000 in 2020 and $12,600 in 2021 Oc. $16,000 in 2020 and $12,800 in 2021 d. $8,000 in 2020 and $14,400 in 2021