6 Part 1 of 3 1.5 points eBook Hint Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Straight-Line Depreciation Print Choose Numerator: Choose Denominator: Annual Depreciation Formula =Annual Depreciation References Amounts Year Annual Depreciation x Fraction of Year Depreciation expense 2021 2022