On January 1, 2020, Air Asia purchased a used Bombardier jet at a cost of $45,000,000. Air Asia expects the plane to remain useful for six years (4,000,000 miles) and to have a residual value of $5,750,000. Air Asia expects the plane to be flown 900,000 miles the first year (Note: "Miles" is the unit of measure used in the airline industry.) 1. Compute Air Asia's first-year amortization on the jet using the following methods: a. Straight line b. UOP C. DDB 2. Show the jet's book value at the end of the first year under the straight-line method. 1. Calculate the first-year amortization: (Round your final answer to the nearest whole dollar.) a. Using the straight-line method, amortization is S b Using the UOP method, amortization is S (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) c. Using the DDB method, amortization is S (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar.) 2. Show the jet's book value at the end of the first year under the straight-line method Book value: Straight Line Enter any number in the edit flelds and then continue to the next question Copyright 2020 Pearson Education Inc. All ights reserved. Tems UT PFIVALY Polcy I Eermission, I Cotan 1. Calculate the first-year amortization: (Round your final answer to the nearest whole dollar.) a. Using the straight-line method, amortization is $ b. Using the UOP method, amortization is S (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. c. Using the DDB method, amortization is S (Do not round intermediary calculations. Only round the amount you input in the cell to the nearest dollar. 2. Show the jet's book value at the end of the first year under the straight-line method. Book value: Straight-Line Enter any number in the edit fields and then continue to the next question. b. UOP C. DDB 2. Show the je's book value at the end of the first year under the straight-line method. c. Using the DDB method, amortization is $ (Do not round intermediary calculations. Only round 2. Show the je's book value at the end of the first year under the straight-line method. Book value: Straight-Line Cost Less: Accumulated amortization Book Value odit fields and then continue to the next question. Uuits al Production Declining Do P s Balance DDBS Double