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Required information [The following information applies to the questions displayed below.] Part 2 of 3 On January 1, 2024, the Allegheny Corporation purchased equipment for

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Required information [The following information applies to the questions displayed below.] Part 2 of 3 On January 1, 2024, 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 2024 and 2025 using each of the following methods. 2. Double-declining-balance

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