At the beginning of 2016, Advanced Airline purchased a used airplane at a cost of $34,000,000. Advanced Airline expects the plane to remain useful for eight years (4,000,000 miles) and to have a residual value of $6,000,000 Advanced Airline expects the plane to be flown 1,100,000 miles the first year and 1,500,000 miles the second year. Requirements 1. Compute second-year (2017) 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. Requirement 1a. Compute second-year (2017) depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the straight-line method. Then enter the amounts and calculate the depreciation expense for the second year. ) / = Straight-line depreciation ) / Requirement 1b. Compute second-year (2017) depreciation expense on the plane using the units-of-production method. Before calculating the second-year depreciation expense on the plane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. = Depreciation per unit = Requirement 1c. Compute second-year (2017) depreciation expense on the plane using the double-declining-balance method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the double-declining balance method. Then enter the amounts and calculate the depreciation expense for the second year. Double-declining- = balance depreciation ) X ) X Requirement 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods Straight-Line Units-of-production Double-declining-balance Depreciation Expense - 2016 Depreciation Expense - 2017 Accumulated Depreciation ending balance