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 $18,000. The equipment is expected to produce 240,000 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: 1 Choose Denominator: Annual Depreciation Expense = Depreciation Expense / 1 - 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 $18,000. The equipment is expected to produce 240,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2. Double-declining balance. End of Period Depreciation for the Period Beginning of Period Book Depreciation Depreciation Value Rate (%) Expense Annual Period Accumulated Depreciation Book Value 2021 2022