E 11-2 Depreciation methods LO11-2 On January 1, 2024, the Allegheny Corporation purchased equipment for $115,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 220,000 units during its life. Required: Calculate depreciation for 2024 and 2025 using each of the following methods. Round all computations to the nearest dollar. 1. Straight line 2. Double-declining balance 3. Units of production (units produced in 2024, 30,000; units produced in 2025,25,000 )