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On January 1, 2020, Speedy Delivery Transportation Compary purchased a used aircratt at a cost of $53,100,000. Speedy Delivery expects the plane to remain useful
On January 1, 2020, Speedy Delivery Transportation Compary purchased a used aircratt at a cost of $53,100,000. Speedy Delivery expects the plane to remain useful for tive years (7.000.000 miles) and to here e residial velive of $5,100,000. Speedy Delvery expects to fly the plane 900,000 miles the first year, 1,400,000 miles each year during the tecond, thind, and fourth yeare and 1,000,000 miles the last year, Read the tequiruments: 1. Compute Speedy Deivery depreciation for the first two years on the plane using the straight-line method, the units-of-production method, and the double-declining halance method. a. Straight-fine method Usho the strightiline method, depreciation is for 2020 and for 2021. Uning the unte-of-production method, depreciation is for 2020 and lor 2021. e. Doutle-decining balance method Using thit double-dedininghalance method, depreciation is for 2000 and for 2021
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