Help Save & Exit Submit Check my work On October 1, 2021, the Allegheny Corporation purchased equipment for $203,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 300,000 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. 2. Double-declining balance. Depreciation for the Period Depreciation Fraction of Rate (%) Year Beginning of Period Book Value $ 203,000 Annual Period Depreciation Expense End of Period Accumulated Book Value Depreciation $ 203,000 0 $ 203,000 2021 20% 20% 2022