Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On April 1, Cyclone Company purchases a trencher for $300,000. The machine is expected to last five years and have a salvage value of $50,000 Exercise 8-12 (Algo) 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 doubledeclining-balance method. Note: Enter oll amounts as positive values. Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below] On April 1, Cyclone Company purchases a trencher for $300,000. The machine is expected to last five years and have a salvage value of $50,000 Exercise 8-12 (Algo) 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 doubledeclining-balance method. Note: Enter oll amounts as positive values