Exercise $11-2($Static$)$ Depreciation methods $[$LO$11-2]$

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

On January $1,2024,$ the Allegheny Corporation purchased equipment for $$115,000.$ The estimated service life of the equipment is $10$ years and the estimated residual value is $$5,000.$ The equipment is expected to produce $220,000$ units during its life.

Required:

Calculate depreciation for $2024$ and $2025$ using each of the following methods.

Exercise $11-2($Static$)$ Part $1$

Straight$-$line.

$\backslash$table$[[$Straight$-$Line Depreciation$],[,$Choose Numerator:,$,$Choose Denominator:,$=,$Annual Depreciation$],[$Formula$,$Cost minus residual,$,$Double the Straight$-$line Rate,$=,$Annual Depreciation$],[$Amounts$,$$ $110,000,,,=,0],[,$Annual Depreciation,,,,$],[2024,,,,,],[2025,,,,,]]$