Assume that at the beginning of 20X6, Northeast USA, a regional airline operating predominantly in Southeast Asia, purchased a used Boeing 737 aircraft at a cost of $60,400,000. Northeast USA expects the plane to remain useful for five years (5 millic miles) and to have a residual value of $5,400,000. Northeast USA expects to fly the plane 750,000 miles the first year, 1,325,000 miles each year during the second third and fourth years, and 275,000 miles the last year 1. Compute Northeast USA's first-year depreciation on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Show the airplane's book value at the end of the first year under each depreciation method Requirement 1. Compute Northeast USA's first-year depreciation on the plane using the following methods: a. Using the straight-line method, depreciation is for 20x6. b. Using the units-of-production method, depreciation is for 20x6. c. Using the double-declining-balance method, depreciation is for 20x6. o Requirement 2. Show the airplane's book value at the end of the first year under each method Units-of- Double-Declining- Straight-Line Production Balance Book Value: Less Book value