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16 Part 1 of 3 Required information [The following information applies to the questions displayed below) On January 1, 2021, the Allegheny Corporation purchased equipment for $128,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 200,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2.96 points 8 02:24 1. Straight-line. Choose Numarator: Straight-Line Depreciation 1 Choose Denominator Formula Annual Depreciation Expense Depreciation Expense Amounts Depreciation Expense 2021 2022 17 Part 2 of 3 Required information [The following information applies to the questions displayed below) On January 1, 2021, the Allegheny Corporation purchased equipment for $128,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 200,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2.96 points 8 02:00 2. Double declining balance. Double Declining-Balance Method Formula - Depreciation Expense Amount for 2021 Amount for 2022 18 Part 3 of 3 Required information (The following information applies to the questions displayed below) On January 1, 2021, the Allegheny Corporation purchased equipment for $128,000. The estimated service life of the equipment is 10 years and the estimated residual value is $7,000. The equipment is expected to produce 200,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 296 points 8 02:45.51 3. Units of production (units produced in 2021, 31,000; units produced in 2022, 26,000). (Round "Depreciation per unit rate" answers to 2 decimal places.) Select formula for Units of Production Depreciation: Calculate 2021 depreciation expense Depreciation per unit rate Units produced in 2021 Depreciation in 2021 Calculate 2022 depreciation expense Depreciation per unit rate Units produced in 2022 Depreciation in 2022