On January 1, 2025, Swifty Airline purchased a used airplane at a cost of $46,000,000. Swifty Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $6,000,000. Swifty Airline expects the plane to be flown 1,300,000 miles the first year and 1,000,000 miles the second year. 

Requirements 

1. Compute second-year (2026) depreciation expense on the plane using the following methods: 

a. Straight-line 

b. Units-of-production 

c. Double-declining-balance 

2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods.