On October $1,2024,$ the Allegheny Corporation purchased equipment for $$123,000.$ The estimated service life of the equipment is $10$ years and the estimated residual value is $$2,000.$ The equipment is expected to produce $220,000$ 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.

Double$-$declining$-$balance.

$\backslash$table$[[$Double$-$Declining$-$Balance Method$],[$ormula$,$Beginning Book Value,$,$Double the Straight$-$line Rate,,$,$Fraction of Year,$=,$Depreciation Expense$],[$mount for $2024,,,,\%,,-,=,],[$mount for $2025,,,,\%,,,=,]]$

On October $1,2024,$ the Allegheny Corporation purchased equipment for $$123,000.$ The estimated service life of the equipment is $10$ years and the estimated residual value is $$2,000.$ The equipment is expected to produce $220,000$ 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.

$2.$ Double$-$declining$-$balance.

$\backslash$table$[[$Double$-$Declining$-$Balance Method$],[$Formula$,$Beginning Book Value,$,$Double the Stralght$-$line Rate,,$*,$Fraction of Year,$=,$Depreciation Expense$],[$Amount for $2024,,$k$,,\%,,-,=,],[$Amount for $2025,,,,\%,$x$,,=,]]$