Required information [The following information applies to the questions displayed below] On October 1,2024 , the Allegheny Corporation purchased equipment for $289,000. The estimated service life of the equipment is 10 years and the estimated residual value is $3,000. The equipment is expected to produce 520,000 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