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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On April 1, Cyclone Company purchases a trencher for $308,000. The machine is expected to last five years and have a salvage value of $54,000 Exercise 10-11 (Algo) Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the compony uses the straight-line method. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On April 1, Cyclone Company purchases a trencher for $308,000. The machine is expected to last five years and have a salvage value of $54,000 Exercise 10-11 (Algo) Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the compony uses the straight-line method