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Required information Exercise 11-2 (Static) Depreciation methods [LO11-2] [The following information applies to the questions displayed below.] On Januairy 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. Exercise 11-2 (Static) Part 1 1. Straight-line