Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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 1 Amounts Year 2021 2022 Annual Depreciation Fraction of Year Depreciation expense X X Required information (The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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: Fraction of Year - Depreciation Expense Fraction of your Depreciation Expense Choose Numerator Formula Amount for 2021 Amount for 2022 Required information [The following information applies to the questions displayed below.) On October 1, 2021, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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, 27,000; units produced in 2022, 42,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expenses Depreciation per unit rato Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense: Depreciation per unit rato Units produced in 2022 Depreciation in 2022