Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.) On April 1, Cyclone Co. purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000 Exercise 8-12 (Static) 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 Depreciation Partial Year Rato Beginning of Period Book Value Annual Period End of Period Depreciation Accumulated Book Value Expense Depreciation $ 0 $ 0 $ os Year 1 Year 2