! Required information Exercise 11-2 (Algo) Depreciation methods [LO11-2] (The following information applies to the questions displayed below.] On January 1, 2021, the Allegheny Corporation purchased equipment for $126,000. 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 2021 and 2022 using each of the following methods. Exercise 11-2 (Algo) Part 1 1. Straight-line. Straight-Line Depreciation Choose Numerator: 1 Choose Denominator: Annual Depreciation Expense Depreciation Expense Formula Cost minus residual 1 Estimated Useful Life (years) = Amounts = 0 Depreciation Expense 2021 2022 Exercise 11-2 (Algo) Part 2 2. Double-declining-balance. Double-Declining-Balance Method Choose Numerator: * Choose Denominator: = Depreciation Expense Depreciation Expense Formula Amount for 2021 X % Amount for 2022 % Exercise 11-2 (Algo) Part 3 3. Units of production (units produced in 2021, 33,000; units produced in 2022, 28,000). (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