Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $323,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. 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. 1. Straight-line Straight-Line Depreciation Choose Denominator Choose Numerator: Annual Depreciation = Annual Depreciation Formula Annual Depreciation Fraction of Year Depreciation expense Amounts Year 2021 2022 O Required information [The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $323,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. 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. Double-Declining-Balance Method * Choose Denominator: Choose Numerator: * Fraction of Year Fraction of Year - Depreciation Expense = Depreciation Expense Formula x x % Amount for 2021 Amount for 2022 X % Required information [The following information applies to the questions displayed below) On October 1, 2021, the Allegheny Corporation purchased equipment for $323,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. 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. 3. Units of production (units produced in 2021, 29,000; units produced in 2022, 44,000). (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