HIP bave EXT Subm Check my work 2 art 1 of 3 11 Dints Required information [The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 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. eBook 1. Straight-line 2 Chet 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, art 1 of 3 1. Straight-line 1 Straight-Line Depreciation 1 Choose Denominator: Choose Numerator: eflook Formula Annual Depreciation = Annual Depreciation Amounts References Annual Depreciation X Fraction of Year Year 2021 Depreciation expense X 2022 x TW El