[The following information applies to the questions displayed below.]

On October 1, 2024, the Allegheny Corporation purchased equipment for $257,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 460,000 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.

Straight-Line Depreciation
	Choose Numerator:	/	Choose Denominator:	=	Annual Depreciation
Formula		/		=	Annual Depreciation
Amounts		/		=
Year	Annual Depreciation		Fraction of Year		Depreciation expense
2024				=
2025				=