! Required information [The following information applies to the questions displayed below.) On January 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. 2. Double-declining balance. Double-Declining-Balance Method Formula Depreciation Exponse Amount for 2021 Amount for 2022 %