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ALL ENTRIES ARE FOR BLUESTAR AIRLINES On January 1st, 2022, BlueStar purchases a small passenger airplane to cater to business executives for $800,000. The expected

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ALL ENTRIES ARE FOR BLUESTAR AIRLINES On January 1st, 2022, BlueStar purchases a small passenger airplane to cater to business executives for $800,000. The expected salvage value is $150,000 and the plane is expected to fly for 2,000,000 miles over its expected useful life of 7 years. Using the units-of-activity method, calculate the first years depreciation expense as of 12/31/2022? The small plane was driven for 300,000 miles in the first year

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