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

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Accounting

[The following information applies to the questions displayed below.] On October 1, 2024, the Allegheny Corporation purchased equipment for $191,000. The estimated service life of the equipment is 10 years and the estimated residual value is $4,000. The equipment is expected to produce 340,000 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. 1.

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