On January 1, 2020, Quick Travel Transportation Company purchased a used aircraft at a cost of $56,500,000 Quick Travel expects the plane to remain useful for five years (5,500,000 miles) and to have a residual value of $4,500,000 Quick Travel expects to fly the plane 775,000 miles the first year, 1.250,000 miles each year during the second, third, and fourth years, and 975,000 miles the last year Read the requirements 1. Compute Quick Travel'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 a. Straight-line method Using the straight-line method, depreciation is $ 10,400,000 for 2020 and $10.400,000 for 2021 b. Units-of-production method (Round the depreciation per unit of output to two decimal places to compute your final answers) Using the units-of-production method, depreciation is 49172727 27 for 2020 and 44681818 10 for 2021 Incorre (0/3) On January 1, 2020, Quick Travel Transportation Company purchased a used aircraft at a cost of $56,500,000 Quick Travel expects the plane to remain useful for five years (5,500,000 miles) and to have a residual value of $4,500,000 Quick Travel expects to fly the plane 775,000 miles the first year, 1,250,000 miles each year during the second, third, and fourth years, and 975,000 miles the last year Read the requisements - X Requirements 1. Compute Quick Travel's dep balance method a. Straight-line method. Using the straight-line method b. Units-of-production method i Using the units of production Requirements 1. Compute Quick Travel'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 d, and the double-declining