On January 1, 2018, Austin Airlines purchased a used airplane for $50,500,000. Austin Airlines expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $6,500,000. The company expects the plane to be flown 1,500,000 miles the first year. Read the requirements Requirement 1a. Compute Austin 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 Requirement 1b. Compute Austin Airlines's first-year depreciation expense on the plane using the units-of-production method. Before calculating the first-year depreciation expense on the plane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation per unit. - Depreciation per unit Ints for a dules ols Now, select the formula, enter the amounts, and calculate the company's first-year depreciation expense on the plane using the units of production method. - Units-of-production depreciation Requirement 1. Compute Austin Airlines's first year depreciation expense on the plane using the double-declining balance method Choose from any list or enter any number in the input fields and then continue to the next question On January 1, 2018, Austin Airlines purchased a used airplane for $50,500,000. Austin Airlines expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $6,500,000. The company expects the plane to be flown 1,500,000 miles the first year Read the requirements Now, select the formula, enter the amounts, and calculate the company's firs depreciation expense on the plane using the units-of-production method. oduction depreciation Requirement 16. Compute Austin Airlines's first-year depreciation expense on the plane using the double-declining balance method Begin by selecting the formula to calculate the company's first year depreciation expense on the plane using the double-declining balance method. Then enter the amounts and calculate the depreciation expense for the first year. (Enter "O" for items with a zero value) Double-declining balance depreciation Requirement 2. Show the airplane's book value at the end of the first year for all three methods Straight-Line Units-of-production Double-declining-balance Cost Less: Accumulated Depreciation Book Value Choose from any list or enter any number in the input fields and then continue to the next