On danuary 1,2024 , Logan Service purchased a used airplane at a cost of $60,200,000, Logan Service expects the plane to remain usotul for eight years (5,000,000 miles) and to have a residuol value of 55,200,000. Logan Service expects the plano to be flown 1,400,000 miles the frat year and 1,300,000 mos the second year. Read the enguinomosts Requirement 1a. Compute second-year (2025) depreciation expense on the plane using the straight-1ine mothod: Begin by selecting the formula to calculate the company's second-year depreciabon expense on the plane using the straight-tine method. Then enter the amounts and calculate the depreclation expense for the second year. Requlrement 16. Compute seccand-year (2025) depreciation eppense on the plane using the units-of-production method. Before calculating the second-year depreciation expense on the plane using the unit--ofproduction method, calculate the depreciation expense per unit, Select the formula, then enter the amounts and calculate the depreciation expense por unit. Now, beloet the formila, enter the amounts and cakulatin the company's secondlyear ceppreciafion expense on the plane uting the units-of-production method. Requirement fc. Compute second-year (2025) depreciation expense on the plane using the double-declining-balance mothod. Begin by selecting the formula to calcalate the company's second-year depreciaton expense on the plane using the double-declning-balance method. Then enter the amounts and calcilate the depreciation expense for the second year