Ch Part 2 of 2 Required information [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $296,000. The machine is expected to last five years and have a salvage value of $48,000. points eBook Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the double- declining-balance method. (Enter all amounts as positive values.) Hint End of Period Print References Annual Period Depreciation for the Period Beginning of Depreciation Period Book Depreciation Partial Depreciation Value Rate Year Expense $ 296,000 40% 9/12 $ 37,200 $ 49,600 40% 12/12 Accumulated Book Value Depreciation $ 37,200 $ 258,800 $ OS 0 Year 1 Year 2