On January 1, 2024, the Allegheny Corporation purchased equipment for $146,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. 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.

1. Straight-line.

2. Double-declining-balance.

3. Units of production (units produced in 2024, 38,000; units produced in 2025, 33,000).

Note: Round "Depreciation per unit rate" answers to 2 decimal places.

\begin{tabular}{|l|c|c|c|c|c|} \hline & Choose Numerator: & & Choose Denominator: & = & Annual Depreciation \\ \hline Formula & & & & = & Annual Depreciation \\ \hline Amounts & & & & \\ \hline & Annual Depreciation & & \\ \hline 2024 & & & & \\ \hline 2025 & & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|l|l|} \hline \multicolumn{5}{|c|}{ Double-Declining-Balance Method } & = Depreciation Expense \\ \hline Formula & & & % & = \\ \hline Amount for 2024 & & & % & = \\ \hline Amount for 2025 & & & \\ \hline \end{tabular} \begin{tabular}{|l|} \hline Select formula for Units of Production Depreciation: \\ \hline Calculate 2024 depreciation expense: \\ \hline Depreciation per unit rate \\ \hline Units produced in 2024 \\ \hline Depreciation in 2024 \\ \hline Calculate 2025 depreciation expense: \\ \hline Depreciation per unit rate \\ \hline Units produced in 2025 \\ \hline Depreciation in 2025 \end{tabular}