1 Required information Exercise 11-2 (Algo) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] Part 1 of 3 25 oints On January 1, 2024, the Allegheny Corporation purchased equipment for $162,000. The estimated service life of the equipment is 10 years and the estimated residual value is $8,000. The equipment is expected to produce 350,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Exercise 11-2 (Algo) Part 1 1. Straight-line. Answer is not complete. Straight-Line Depreciation Choose Numerator: Choose Denominator: = Annual Depreciation Formula Beginning book value Estimated Useful Life (years) = Annual Depreciation Amounts $ 162,000+ 10 = $ 16,200 Annual Depreciation 2024 2025 Ret