On January 1, 2021, 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 2021 and 2022 using each of the following methods. 1. Straight-line. Choose Numerator: Straight-Line Depreciation Choose Denominator: Estimated Useful Life (years) Annual Depreciation Expense - Depreciation Expense 101 = $ 11,000 Formula Cost minus residual Amounts $ 110.000 Depreciation Expense 2021 2022