On April 1, Stereo Company purchases equipment for $316,000. The equipment is expected to last five years and have a salvage value of $58,000. 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.) End of Patio Depreciation for the Period Depreciation Partial Depreciation Rate Year Expense Beginning of Potlod Book Value Annual Period Accumulated Depreciation Book Value Year 1 Year 2