On January? 1, 2018 Foley Airlines purchased a used airplane for $49,500,000.

Foley Airlines expects the plane to remain useful for five years (5,000,000 ?miles) and to have a residual value of $4,500,000.

The company expects the plane to be flown 1,200,000 miles the first year.

.

Requirement 1a. Compute Foley 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.

(

-

) /

=

(

-

) /

=

Requirement 1b. Compute

Foley 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

(

-

) /

=

?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.

	x		=	Units-of-production depreciation
	x		=

Requirement 1c. Compute

Foley AirlinesFoley 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 "0" for items with a zero? value.)

Double