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Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases

image text in transcribed Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On April 1, Cyclone's Co. purchases a trencher for $312,000. The machine is expected to last five years and have a salvage value of $56,000. Exercise 8-11 Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for the first and second year assuming the company uses the straight-line method. Year First year Second year Choose Numerator: Choose Denominator: = Annual Depreciation I = Annual depreciation = Depreciation Annual Depreciation x Fraction of Year = Expense X X

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