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On January 1, 2020, QuickAir Transportation Company purchased a used aircraft at a cost of $46,700,000. QuickAir expects the plane to remain usefu for five

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On January 1, 2020, QuickAir Transportation Company purchased a used aircraft at a cost of $46,700,000. QuickAir expects the plane to remain usefu for five years (5,000,000 miles) and to have a residual value of $4,700,000. QuickAir expects to fly the plane 800,000 miles the first year, 1,275,000 miles each year during the second, third, and fourth years, and 375,000 miles the last year: Read the reguirements. 1. Compute QuickAir'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. Straighttine 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 hwo decinal places to compute your final answers) Using the units-of-production method, depreciation is for 2020 and for 2021 c. Double-declining balance method Using the double-decining-balance method, deprecation is for 2020 and for 2021 2. Show the airplane's book value at the end of the first year under each method

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