Air Asia purchased a small jet on January 1 at a cost of $29,750,000. Air Asia expects the plane to remain useful for five years and to have a residual value of $4,750,000. Air Asia is comparing the CCA method used for income tax purposes with the straight-line amortization method. 1. Calculate the amount of CCA, at a rate of 25 percent, that Air Asia will be able to claim in its first year. Is this more or less than what it would show using the straight-line method? 2. Why does the Government of Canada, through the CCA, regulate the amount of amortization that a company can claim for income tax purposes? 1. Calculate the amount of CCA, at a rate of 25 percent, that Air Asia will be able to claim in its first year. The amount of CCA that Air Asia will be able to claim in its first year is $