At the beginning of 2016, Texas Aero purchased a used airplane at a cost of $53,500,000. Texas Aero expects the plane to remain useful for eight years (4.000.000 miles) and to have a residual value of $5,500,000. Texas Aero 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 balanc. in Accumulated Depreciation at the end of the second year for all three methods ALCUNI VELIX ALTE J a 53,500,000 13.375.000 X 2x(178) = $ rance depreciation 10,031 250 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 6000000 13375000 6000000 Depreciation Expense - 2017 18000000 10031250 12000000 23406250 Accumulated Depreciation ending balance