Required information Exercise 11-2 (Algo) Depreciation methods [LO11-2] Skip to question [The following information applies to the questions displayed below.] On January 1, 2024, the Allegheny Corporation purchased equipment for $126,000. 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 2024 and 2025 using each of the following methods. Exercise 11-2 (Algo)

Part 1 1. Straight-line.

1. Straight-line