K Assume that at the beginning of 2020, Advanced Air purchased a Bombardier Q400 aircraft at a cost of $28,000,000. Advanced expects the plane to remain useful for five years (6,000,000 km) and to have a residual value of $5,250,000 Advanced expects the plane to be flown 800,000 km the first year, 1,600,000 km each year during years 2 through 4, and 400,000 km the last year. 1. Compute Advanced's first-year depreciation on the plane using the following methods. a. Straight-line b. Units-of-production c. Double-diminishing-balance 2. Show the airplane's carrying amount at the end of the first year under each depreciation method. Which method results in the highest carrying amount? Which method produces the lowest carrying amount? Briefly explain why ...