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 We 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. Portial-year depreciation is calculated based on the number of months the asset is in service. 1. Straight-line. Choose Numerator: Straight Line Depreciation 1 Choose Denominator Formula Annual Depreciation Annual Depreciation 1 Amounts Year 2021 2022 Annual Depression Fraction of Year Depreciation expense X