Required information

Skip to question

$[$The following information applies to the questions displayed below.$]$

On October $1,2024,$ the Allegheny Corporation purchased equipment for $$157,000.$ The estimated service life of the equipment is $10$ years and the estimated residual value is $$3,000.$ The equipment is expected to produce $350,000$ units during its life.

Required:

Calculate depreciation for $2024$ and $2025$ using each of the following methods. Partial$-$year depreciation is calculated based on the number of months the asset is in service.