Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units 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. Exercise 11-3 (Algo) Part 1 1. Straight-line. Straight-Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Formula / Annual Depreciation Amounts / Year Annual Depreciation Fraction of Year Depreciation expense 2021 2022 Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units 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. Exercise 11-3 (Algo) Part 2 2. Double-declining-balance. Double-Declining-Balance Method * Choose Denominator: Choose Numerator: x Fraction of Year = Depreciation Expense Depreciation Expense Formula X X Fraction of Year X % x Amount for 2021 Amount for 2022 X % Required information Exercise 11-3 (Algo) Depreciation methods partial periods [LO11-2] (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $224,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 400,000 units 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. Exercise 11-3 (Algo) Part 3 3. Units of production (units produced in 2021, 20,000; units produced in 2022, 35,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense: Depreciation per unit rate Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per unit rate Units produced in 2022 Depreciation in 2022