On April 1, Cyclone Co. purchases a trencher for $294,000. The machine is expected to last five years and have a salvage value of $47,000. Exercise 8-12 (Algo) Double-declining-balance, partial-year depreciation LO C2 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.) Depreciation for the Period End of Pariod Beginning of Annual Parlod Period Book Depreciation Rate Partial Year Depreciation Expanss Accumulated Depreciation Book Value Valun Year 1 Year 2 $ 294,000 40% 9/12 $ 0$ 40% 12/12 $ 0 $