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 $294,000. The machine is expected to last five years and have a salvage value of $47,000. Exercise 10-12 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 Depreciation Partial Depreciation Rate Year Expense Book Value Beginning of Annual Period Period Book Value Year 1 Year 2 Accumulated Depreciation 0 $ 0 $ $