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 $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 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 Period Depreciation for the Period Beginning of Annual Period Period Book Depreciation Partial Depreciation Value Rate Expense Year 1 Year 2 Accumulated Depreciation Book Value Year 0 0 $ $ | $ 0