On January 1, 2020, Best Stipping Transportation Compacy purchased a used aircraft at a cost of $50,300,000, Bost Shipping expects tho plane to remain useful tor five years (6,000,000 miles) and to have a residual value of $4,300,000. Best Shipping expects to fly the plane 775,000 miles the first year, 1,650,000 miles each year during the second, thind, and fourth years, and 275,000 miles the last year. Read the 1. Compute Best Shipping's depreciation for the frist two yoars on the plane using the straight-line method, the units-of-production method, and the doubie-decining balince method. a. Straightline mothod Using the straight-line method, depreciation is for 2020 and for 2021 1. Compute Best Shipping's depreciation for the first two years on the plane using the following methods: a. Straight-line method b. Units-of-production method (round depreciation per mile to the closest cent) c. Double-declining-balance method 2. Show the airplane's book value at the end of the first year under each depreciation method