! Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $115,000. 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. Partiol-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line Straight-Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Annual Depreciation Formula Cost minus Residual Estimated Useful Life (years) 1 Amounts Year 2021 Annual Depreciation X Fraction of Year Depreciation expenso 2022 Required information (The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $115,000. 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. Partial-year depreciation is calculated based on the number of months the asset is in service. 2. Double-declining balance. Double-Declining-Balance Method x Choose Denominator: Choose Numerator: Fraction of Year Depreciation Expense - Depreciation Expense Formula N Fraction of Year % Amount for 2021 Amount for 2022