Required information [The following information applies to the questions displayed below] On October 1, 2024, the Allegheny Corporation purchased equipment for $115,000, The estimated service life of the equipment is 10 years and the estimated residual value is $5,000. The equipment is expected to produce 220,000 units during its life Required: Calculate depreciation for 2024 and 2025 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