Use the following information for the Exercises below. (Static) (The following information applies to the questions displayed below. On April 1, Cyclone Company purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value of $40,000. Exercise 8-11 (Static) Straight-line, partial-year depreciation LO C2 Compute depreciation expense at December 31 for both the first year and second year assuming the company uses the straight-line method. Choose Numerator: Choose Denominator: = Cost minus salvage Estimated useful life (years) = Annual Depreciation Annual depreciation $ 48.000 Depreciation Expense $ 240,000 5 Year Fraction of Year = First year Second year Annual Depreciation $ 48,000 $ 48,000 x 9/12 12/12 =