On January 1, 2018 Advanced Airline purchased a used airplane at a cost of $60,500,000. Advanced Airine expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,500,000 Advanced Airline expects the plane to be flown 1,100,000 miles the first year and 1,200,000 miles the second year Read the requirements Requirement 1a. Compute second-year (2019) depreciation expense on the plane using the straight-line method Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the straight-line method. Then enter the amounts and calculate the depreciation expense for the second year. Straight-line depreciation Requirements 1. Compute second-year (2019) depreciation expense on the plane using the following methods a Straightne b. Units-of-production c Double-dedining-balance 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods Print Done