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. 2. Double-declining-balance. Double-Declining-Balance Method * Choose Denominator: x Double the Straight-line Rate Choose Numerator: Beginning Book Value Fraction of Year Fraction of Year = Depreciation Expense Depreciation Expense Formula X = Amount for 2021 % x Amount for 2022 %