On January 1, 2020. Logan Service Transportation Company purchased a used aircraft at a cost of $56.500.000. Logan Service expect the plane to remain useful for five years (6.500.000 miles and to have a residual value of $4.500.000. Logan Service expects to fly the plane 850.000 mies the first year, 1.225,000 miles each year during the second third and fourth years, and 1,975.000 mies the last year Read the requirements 1. Compute Logan Service's depreciation for the first two years on the plane using the straight line method the units-of-production method, and the double-declining balance method On January , 2020, Logan Service Tortion Company purchases and craft of a cost of $56.00.00 Logan Spesielt for five years.500.000 de 4.500.00 Logn Services to the are 50.000 mes the first yea 1.225.000 eurng the word, red, and found 78.000 mettre last ye 1. Com Logan Severino e frutas on the engine method tordion method and the who med you . Dod U. 2000 U Pro DO Balance tead the requirements 5 miles the last year 1. Computo Logan Service's depreciation for the first two years on the plane using the straight-ine method, the units-of-production method, and the double declining balance method. a. Sraight line method Using the straight-line method, depreciation is for 2020 and for 2021 b. Units-of-production method (Round the depreciation per unit of output to two decimal places to compute your final awwers) Using the units of production method, depreciation is for 2020 and for 2021 c. Double-declining balance method Using the double-declining balance method. depreciation is for 2020 and Tor 2021 2. Show the airplane's book value at the end of the first year under och method Units-of- Double-Declining Book Value Straight-Line Production Balance Book Value Time Next nased a used aircraft at a cost of $56,500,000. Logan Service expects the plane to remain he 850,000 miles the first year, 1,225,000 miles each year during the second third, and four Requirements 1. Compute Logan Service'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. Print Done 14 S 4 . % 5 & 7 6 8 9 0 P