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

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Accounting

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Required information [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. 3. Assume instead the equipment was purchased on October 1 , 2024. Calculate depreciation for 2024 and 2025 using each of the two methods. Partial-year depreciation is calculated based on the number of months the asset is in service. Note: Do not round intermediate answers and round your answers to the nearest whole dollar amount

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