Required information (The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $123,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 220,000 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 Numerator: 1 Choose Denominator: = Annual Depreciation Formula 1 = Annual Depreciation = Amounts Year 2021 Annual Depreciation Fraction of Year Depreciation expense X 2022 X 1/12 =