On January $1,2024,$ Alaska Freight Airlines purchased a used airplane for $$41,600,000.$ Alaska Freight Airlines expects the plane to remain useful for four years miles$)$ and to have a residual value of $$5,600,000.$ The company expects the plane to be flown $1,300,000$ miles during the first year.

Read the requirements.

Requirement $1$a$.$ Compute Alaska Freight Airlines's first$-$year depreciation expense on the plane using the straight$-$line method.

Begin by selecting the formula to calculate the company's first$-$year depreciation expense on the plane using the straight$-$line method. Then enter the amounts and calculate the depreciation for the first year.