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 $280,000. The machine is expected to last five years and have a salvage value of $40,000 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.) Depreciation for the Period End of Period Beginning of Depreciation Partial Depreciation Accumulated Depreciation Annual Period Period Book 2016 2017 Book Value Rate Year Expense Value $ 280,000