Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $245,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 440,000 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. 3. Units of production (units produced in 2021, 22,000; units produced in 2022, 37,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: (Cost - Residual) / Total units of production 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 22,000 37,000