On January 1, 2018, Northeast Airlines purchased a used airplane for $33,500,000. Northeast Airlines expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $5,500,000. The company expects the plane to be flown 1,500,000 miles the first year. Read the requirements. Requirement 1a. Compute Northeast 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 Northeast 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 x Units-of-production depreciation Requirement 1 Comnute Northeast Airline'e firet.vaar danreciation avnance on the nlana ueing the double-derlinina_halance method