On Jamuary 1, 2020, Northeast Transportation Company purchased a used arcraft at a cost or 558,900,000. Northeast expects the plane to remaic usetul for five years (7,200,000 mies) and to han a residual value of $4,900,000. Northeast expects to ty tho plane 750.000 miles the frst yesc, 1,375,000 miles each yaar during the swoond, sird, and fourthyeark. and 2.125.000 miles the last year Read the esecusements