On April 1, Cyclone Company purchases a trencher for $296,000. The machine is expected to last five years and have 3 a salvage value of $48,000. 4 5 5 Cost Estimated useful life Salvage value Year 1 2 $296,000 Beginning of Period Book Value 5 years Required: 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.) $48,000 Depreciation for the Period Depreciation Rate Months to Depreciate /12 9 12 End of Period Depreciation Accumulated Expense Depreciation Book Value

On April 1, Cyclone Company purchases a trencher for $296,000. The machine is expected to last five years and have a salvage value of $48,000. 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 arnounts as positive values.)