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On Januacy 1,2020 . Timely Delvery Transportation Company purchased a used aircratt at a cost of 562,700.000. Timely Defivery expects the plane to remain useful

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On Januacy 1,2020 . Timely Delvery Transportation Company purchased a used aircratt at a cost of 562,700.000. Timely Defivery expects the plane to remain useful for five years (6,500,000 miles) and to have a residuat value of $4,700,000. Timely Deivery expects to fly the plane 725,000 miles the first yoar, 1,225,000 miles each year during the socond, third, and fourth years; and 2,100,000 miles the last year. Read the regurements 1. Compute Timely Delivery' depreclation for the fest two years on the plane using the straight-line method, the units-of-production method, and the double-declining balance method. a. Straight-Ine method Using the straight-line method, deoreciation is for 2020 and for 2021 b. Units-of-production method (Round the depreciation per unit of cuqut to two decimal places to compute your final answers) Using the unts-of-production method, depreciation is for 2020 and for 2021 c. Doutio-decling balance method Using the double-declining balance method, depreciaton is for 2020 and for 2021 2. Show the a plene'i book value at the end of the first year under each method. On danuary 1,2020, Timely Defivery Transportation Company purchased a used aircraft at a cost of $62,700,000. Timely Delivery expects the plane to remain ssefu for five years (6,500,000 miles and to have a restidual value of $4,700,000. Timely Delivery expects to by the plane 725,000 miles the first yeat, 1,225,000 miles each year during the second, thild, and fourth years, and 2, 100,000 miles the last year Fiead the tequirements 1. Compute Tmey Dolvery's depreciation for the first fwo years on the plane using the straight-line method, the units-of-production method, and the double-decining baiance method. a. Straight-line method Using the straight dine method, depreciasion is for 2020 and for 2021 b. Units-of-production method (Round the depreciaton per unt of cutput to two decimal places to compute your fnal answers.) Using the units-of-production method, depreciation in for 2020 and for 2021 c. Double-declining balance method Using the double-decining bulance method, depreciation is for 2020 and for 2021 Requirements 1. Compute Timely Delivery's depreciation for the first two years on the plane using the following methods: a. Straight-line method b. Units-of-production method (round depreciation per mile to the closest cent) c. Double-declining-balance method 2. Show the airplane's book value at the end of the first year under each depreciation method

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