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On January 1 , 2 0 2 4 , Air Canadians purchased a used airplane for $ 3 7 , 0 0 0 , 0
On January Air Canadians purchased a used airplane for $ Air Canadians expects the plane to remain useful for five years miles and to have a residual value of $ The company expects the plane to be flown miles during the first year.
Requirements
Compute Air Canadians' firstyear depreciation expense on the plane using the following methods:
a Straightline
b Unitsofproduction
c Doubledecliningbalance
Show the airplane's book value at the end of the first year for all three methods.
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