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Show transcribed image text Exercise 11-3 Depreciation methods; partial years [LO11-2] On October 1, 2016, the Allegheny Corporation purchased machinery for $332,000. The estimated service life of the machinery is 10 years and the estimated residual value is $2,000. The machine is expected to produce 550,000 units during its life Required Calculate depreciation for 2016 and 2017 using each of the following methods. Partial-year depreciation is calculated based on the number of months the asset is in service. (Do not round intermediate calculations.) 1. Straight line Choose Numerator: Choose Denominator: Annual Depreciation = Annual Depreciation Depreciation Expense Year Annual Depreciation x 2016 2017 Fraction of Year 2. Sum-of-the-years' digits Depreciable Base Rate per x Fraction of Year Depreciation Expense Year 10/1/2016 through 12/31/2016 Total depreciation expense 2016 1/1/2017 through 9/30/2017 10/1/2017 through 12/31/2017 Total depreciation expense 2017