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Required information [The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $332,000. The estimated service

Required information

[The following information applies to the questions displayed below.] On October 1, 2021, the Allegheny Corporation purchased equipment for $332,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 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.

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