! Required information [The following information applies to the questions displayed below.] 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 straight-line method. Choose Numerator: 1 Choose Denominator: = 1 Year Annual Depreciation First year Second year Annual Depreciation Annual depreciation = Fraction of Year = Depreciation Expense = =