On January 1, 2018, Foley Airines purchased a used airplane for $39,000,000. Foley Airlines expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $7,000,000 The company expects the plane to be flown 1,200,000 miles the frst year. Read the requirements Requirement fa. Compute Foley Airines's first year depreciation expense on the plane using the straight-line method Begin by selecting the formula to calculate the oompany's first-year depreciation expense on the plane using the straight-ine method. Then enter the amounts and caloulate the depreciation for the frst year Straight-ine depreciation Requirement 1b. Compute Foley Airines's first-year depreciation expense on the plane using the units-of production method Belore calculating the frst-year depreciation expense on the plane using the units-of groduction method, caloulae the depreciation expense per unit Select the fomula, then enter the amounts and caloulate the depreciation per unit Depreciation per unit Now, select the formula, enter the amounts, and calculate the oompany's first-year depreciation expense on the plane using the units-of production method. Units of production depreciation Requirements Requirement te. Compute Foley Airines's first-year depreciation expense on the plane using the double-dedining-balance method Begin by selecting the formula to caloulate the company's first-year depreciation expense on the plane usirg the double-declining bala nterfor ems with em vakn 1. Compute Foley Aiines's fatar depreciation expense on the plane ising he following methods aStraigheine duction Double-declining balance Choose from any lst or enter any number in the input fields and then continue to the next question 2. Show the airplane's book value at the end of the frst year for all three method HIS QUz: pis possieClet On January 1, 2018, Foley Airines purchased a used airplane for $39,000,000. Foley Airines expects the plane to remain useful for five years (4.000,000 miles) and to have a residual value of $7,000,000. The company expects the plane to be flown 1,200,000 miles the frst year Read the requirements 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 1c. Compute Foley Aiines's first-year depreciation expense on the plane using the double-dedining-balanoe method Begin by selecting the formula to caloulate the company's first-year depreciation expense on the plane using the double-declining-balance method. Then enter the amounts and calaulate he depreciation expense for the frst year (Enter "0 for items with a zero value.) Double-declining balanoe 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 lst or enter any number in the input fields and then continue to the next