On January$1,20202020,$ Timely DeliveryTimely Delivery Transportation Company purchased a used aircraft at a cost of $ $61$ comma $100$ comma $000$$$61,100,000.$ Timely DeliveryTimely Delivery expects the plane to remain useful for fivefive years $(5$ comma $500$ comma $0005,500,000$miles$)$ and to have a residual value of $ $5$ comma $100$ comma $000$$$5,100,000.$ Timely DeliveryTimely Delivery expects to fly the plane $700$ comma $000700,000$ miles the first$$ year, $1$ comma $275$ comma $0001,275,000$ miles each year during the$$ second, third, and fourth$$ years, and $975$ comma $000975,000$ miles the last year.

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Part $1$

$1.$ Compute Timely DeliveryTimely Delivery$\text{'}$s depreciation for the first two years on the plane using the$$ straight$-$line method, the$$ units$-$of$-$production method, and the$$ double$-$declining balance method.

a$.$ Straight$-$line method

Using the straight$-$line method, depreciation is

for $2020$ and

for $2021.$

Part $2$

b$.$ Units$-$of$-$production method $($Round the depreciation per unit of output to two decimal places to compute your final$$ answers.$)$

Using the units$-$of$-$production method, depreciation is

for $2020$ and

for $2021.$

Part $3$

c$.$ Double$-$declining balance method

Using the double$-$declining$-$balance method, depreciation is

for $2020$ and

for $2021.$

Part $4$

$2.$ Show the$$ airplane's book value at the end of the first year under each method.

Units$-$of$-$

Double$-$Declining$-$

Book Value:

Straight$-$Line

Production

Balance

Less:

Book Value