At the beginning of the year, South Bend Airlines purchased a used airplane for $$54,500,000.$ South Bend Airlines expects the plane to remain useful for five years miles$)$ and to have a residual value of $$6,500,000.$ The company expects the plane to be flown $1,300,000$ miles the first year.

Read the requirements

Requirement $1$a$.$ Compute South Bend Airlines's first$-$year depreciation expense on the plane using the straight$-$line method.$]$

Requirement $1$b$.$ Compute South Bend Airlines's first$-$year depreciation expense on the plane using the units$-$of$-$production method.

Before calculating the first$-$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 per unit.

$/=$ Depreciation per unit

$()!=1$

Now, select the formula, enter the amounts, and calculate the company's first$-$year depreciation expense on the plane using the units$-$of$-$production method.

$x,=$ Units$-of-$production depreciation

$x=$

Requirement $1$c$.$ Compute South Bend Airlines's first$-$year depreciation expense on the plane using the double$-$declining$-$balance method.

Begin by selecting the formula to calculate the company's first$-$year depreciation expense on the plane using the double$-$declining$-$balance method. Then enter the amounts and calculate the depreciation expense for the first year. $($Enter $"0"$ for items with a zero value.$)$

Double$-$declining$-$

$($

$|x,||=1$

$|x,||=$

$=$ balance depreciation

Requirement $2.$ Show the airplane's book value at the end of the first year for all three methods.