On January 1, 2018, Air Canadians purchased a used airplane for $37,000,000. Air Canadians expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $5,000,000. The company expects the plane to be flowri 1.400,000 miles the first year. Read the requirements Requirement 1a. Compute Air Canadians'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 Requirements 1. Compute Canadians's first-year depreciation expense on the plane using the following methods: 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