! Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $148,000. The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 260,000 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. 2. Double-declining-balance. Answer is complete but not entirely correct. Double-Declining-Balance Method Choose Numerator: X Choose Denominator: X Fraction of Year Fraction of Year Depreciation Expense Depreciation Expense Formula Cost Minus Residual Double the Straight-line Rate $ 143,000 X X 20% 3/12 $ 7,150 X Amount for 2021 Amount for 2022 $ 143,000 $ 20% 9/12 x = $ 21,450 X