In early January 2020, Touch and Go Airways Ltd purchased a used Bombardier CS300 aircraft for its flight operations. Touch and Gopaid $63,400,000 for the plane. After obtaining an appraisal, management allocated the purchaze price as follows: $43,600,000 to the plane's engines and $19.800.000 to the fuselage Based on experience management has determined that the plane's engines will have a useful life of 50,000 flying hours, at which time they will have an estimated residual value of 10,800,000. The fuselage has a useful life of 30 years and a residual value of $1.950.000. During 2020, the plane was used for 2,000 flying hours and in 2021 it was used for 7,000 nying hours, Touch and Go has a December 31 year end and uses the unlts-ofproduction method of depreciation for the plane's engines and straight-Ine depreciation method for the fuselage Determine the depreciation expense on these assets for 2020 and 2021. along with their carrying amounts at December 31, 2021 Carrying Amounts at Depreciation Expense 2020 Depreciation Expense 2021 December 31, 2021 Engines $ $ $ Fuselage $ $ $ Submit Anti Attempts: Oof 1 used Savetor Line