! Required information (The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 360,000 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: Annual Depreciation Expense Depreciation Expense Formula / = Amounts / Depreciation Expense 2021 2022 ! Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 360,000 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 Choose Numerator: * Choose Denominator: = Depreciation Expense = Depreciation Expense Formula Amount for 2021 % Amount for 2022 % Required information [The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 360,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 3. Units of production (units produced in 2021, 40,000; units produced in 2022, 35,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense: Depreciation per unit rate Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per unit rate Units produced in 2022 Depreciation in 2022