Ch On October 1, 2021, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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 1 Choose Denominator: Choose Numerator: Annual Depreciation - Annual Depreciation Formula Annual Depreciation Fraction of Year Depreciation expense Amounts Year 2021 2022 x