On January 1, 2018, Alaska Freight Airines purchased a used airplane for $49,000,000. Alaska Freight Airlines expects the plane to remain useful for five years (6,000,000 miles) and to have a residual value of $7,000,000. The company expects the plane to be flown 1,100,000 miles the first year. Read the mpuiremants. Requirement 1a. Compute Alaska Freight Airlines's firsf-year depreciation expense on the plane using the straight-ine method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using the straight-ine method. Then enter the amounts and calculate the depreciation for the first year. Straight-line depreciation )r Requirement 1b. Compute Alaska Freight Airines's wst-year depreclation expense on the plane using the units-of-production method. Before calculating the fir year depreciation expense on the plane using the units production method co o late the de nec ation expense per unit elect the formula, then enter the ?mounts and calculate the depreciation per unit