At the beginning of the year, Alaska Freight Airlines purchased a used airplane for $43,000,000. Alaska Freight Airlines expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $7,000,000. The company expects the plane to be flown 1,400,000 miles during the first year. Requirements a. Compute Alaska Freight Airlines' first-year depreciation expense on the plane using the following methods: 1. Straight-line 2. Units-of-production 3. Double-declining-balance b. Show the airplane's book value at the end of the first year for all three methods