On January 1, 2018, Air Asias purchased a used airplane for $58,500,000. Air Asias expects the plane to remain useful for four years (6,000,000 miles) and to have a residual value of $4,500,000. The company expects the plane to be flown 1,100,000 miles the first year. Read the requirements Requirement la 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 Or les 5 Choose from any drop-down list and then click Check Answer 7 parts remaining Clear All Check Answer chased a used airplane for $58,500,000. Air Asias expects the plane to remain useful for four years (6,0 company expects the plane to be flown 1,100,000 miles the first year. i Requirements ias hod. Then irs 1. Compute Air Asias's first-year depreciation expense on the plane using the following methods a. Straight-line b. Units-of-production c. Double-declining-balance 2. Show the airplane's book value at the end of the first year for all three methods Print Done t and then click Check Answer Clear All Chec acer