Computing second-year depreciation and accumulated depreciation On January 1, 2018, Advanced Airline purchased a used airplane at a cost of S60,500,000. Advanced Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,500,000. Advanced Airline expects the plane to be flown 1,100,000 miles the first year and 1,200,000 miles the second year. S10-4