On January 1, 2018, Air Asias purchased a used airplane for $58.000.000. Air Asias expects the plane to remain useful for five years (6,000,000 miles) and to have a residual value of $4,000,000. The company expects the plane to be flown 1,500,000 miles the first year. Read the requirements. Requirement 1a. Compute Air Asias'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. Straight-line depreciation