Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] On April 1, 2016, Cyclone's Backhoe Co. purchases a trencher for $292,000. The machine is expected to last five years and have a salvage value of $46,000. Exercise 8-12 Double-declining-balance, partial-year depreciation LO C2 Compute depreciation expense for both years ending December 2016 and 2017 assuming the company uses the double-declining-balance method. (Enter all amounts positive values.)