On October 1, 2016, the Allegheny Corporation purchased machinery for $323,000. The estimated service ife of the machinery is 10 years and the estimated residual value is $4,000. The machine is expected to produce 550,000 units during its life Required Calculate depreciation for 2016 and 2017 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round intermediate calculations.) 1. Straight line Straight-Line Depreciation Choose Denominator Estimated Useful Life (years) Choose Numerator: Annual Depreciation Annual Depreciation Cost minus Salvage / = 319,000 Year Annual Depreciation x 2016S 2017 31,900 Depreciation Expense 7,975 31,900 Fraction of Year 31,900x 31,9001 x 2. Sum-of the years' digits Sum-of-the-years' digits depreciation Depreciable Fraction Xof Year Depreciation Rate per Year Base Expense 1,450 S 1,450 S 39,150 S 13,050 S 52,200 10/1/2016 through 12/31/2016 $ 3190001 x Total depreciation expense 2016 20000-ELLE 1/1/2017 through 9/30/2017 S 319000x S 319,000 Total depreciation expense- 2017