Required information [The following information applies to the questions displayed below.] On October 1, 2024, the...

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Required information [The following information applies to the questions displayed below.] On October 1, 2024, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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. 3. Units of production (units produced in 2024, 27,000; units produced in 2025, 42,000). Note: Round "Depreciation per unit rate" answers to 2 decimal places. Select formula for Units of Production Depreciation: Calculate 2024 depreciation expense Depreciation per unit rate Units produced in 2024 Depreciation in 2024 Calculate 2025 depreciation expense Depreciation per unit rate. Units produced in 2025 Depreciation in 2025 Required information [The following information applies to the questions displayed below.] On October 1, 2024, the Allegheny Corporation purchased equipment for $299,000. The estimated service life of the equipment is 10 years and the estimated residual value is $2,000. The equipment is expected to produce 540,000 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. 3. Units of production (units produced in 2024, 27,000; units produced in 2025, 42,000). Note: Round "Depreciation per unit rate" answers to 2 decimal places. Select formula for Units of Production Depreciation: Calculate 2024 depreciation expense Depreciation per unit rate Units produced in 2024 Depreciation in 2024 Calculate 2025 depreciation expense Depreciation per unit rate. Units produced in 2025 Depreciation in 2025