! Required information [The following information applies to the questions displayed below.] On January 1, 2021, 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 2021 and 2022 using each of the following methods. 1. Straight-line. Straight-Line Depreciation Choose Numerator: Choose Denominator: Formula Amounts Depreciation Expense 2021 2022 Annual Depreciation Expense = Depreciation Expense =