On January 1, 2018, Alaska Freight Airlines purchased a used airplane for $5,500,000. Alaska Freight Airlines expects the plane to remain useful for five years (5.000.000 miles) and to have a residual of $4,500,000 The company expects the plane to be flown 1,200,000 miles the first year Read the requirements Requirement 1a. Compute Alaska Freight Airlines'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 Alaska Freight Airlines's first-year depreciation expense on the plane using the following methods a. Straight-line b. Units-of-production e. Double-declining-balance 2. Show the airplane's book value at the end of the first year for all three methods Print Done X