On October 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 unit 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. 1. Straight-line. Answer is not complete. Straight-Line Depreciation Choose Denominator: Estimated Useful Life (years) = Choose Numerator: Formula Annual Depreciation Annual Depreciation S 10 Amounts Year 2021 2022 Cost minus Residual 110,000 Annual Depreciation S 11,000 11,000 Fraction of Year $ 11,000 Depreciation expense 10/12 - X