Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $278,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 550,000 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 Formula Amount for 2021 Amount for 2022 Double-Declining Balance Method Choose Numerator: Choose Denominator: Fraction of Year Fraction of Year Depreciation Expense Depreciation Expense