number 2 needs to be solved please

On January 1, 2020, Fa five years (6,000,000 miles) and to have a residual value of $4,000,000. Fast Delivery expects to fly the plane 925,000 miles the first year, 1,250,000 miles each year during the second, third, and fourth years, and 1,325,000 miles the last year, (Click the icon to view the first year depreciation amounts under each method.) Read the requirements The advantage results from the greater amount of depreciation (versus the other methods) in the first year. This method also produces the fastest tax deductions and conserves cash that the taxpayer can invest to earn more income. 2. How much income tax will Fast Delivery save for the first year of the airplane's use under the method you just selected as compared with using the straight-line depreciation method? The company's income tax rate is 40%. Ignore any earnings from investing the extra cash. (Round the depreciation rates to two decimal places. Round your final answers to the nearest whole dollar) Compute the tax savings: Less: Straight-line depreciation Excess depreciation tax deduction Income tax rate Income tax savings for first year 40% > es > ols > to search: On January 1, 2020, Fast Delivery Transportation Company purchased a used aircraft at a cost of $54,000,000. Fast Delivery expects the plane to remain useful for five years (6,000,000 miles) and to have a residual value of $4,000,000. Fast Delivery expects to fly the plane 925,000 miles the first year, 1,250,000 miles each year during the second, third, and fourth years, and 1,325,000 miles the last year. (Click the icon to view the first year depreciation amounts under each method.) Read the requirements The advantage results from the greater amount of depreciation (versus the other methods) in the first year. This method also produces the fastest tax deductions and conserves cash that the taxpayer can invest to earn more income. 2. How much income tax will Fast Delivery save for the first year of the airplane's use under the method you just selected as compared with using the straight-line depreciation method? The company's income tax rate is 40%. Ignore any earnings from investing the extra cash. (Round the depreciation rates to two decimal places. Round your final answers to the nearest whole dollar) Compute the tax savings Less: Straight-line depreciation Excess depreciation tax deduction Income tax rate 40% 18 98F 7:35 PM 7/10/2022