On January 1, 2024, Air Asia purchased a used airplane at a cost of $57,000,000. Air Asia expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $7,000,000. Air Asia expects the plane to be flown 1,400,000 miles the first year and 1,000,000 miles the second year. Read the requirements. Requirement 1a. Compute second-year (2025) depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the straight-line method. Then enter the amounts and calculate the depreciation expense for the second year. Cost 57000000 Residual value 7000000 Useful life 8 Straight-line depreciation 6250000 Requirement 1b. Compute second-year (2025) depreciation expense on the plane using the units-of-production method. Before calculating the second-year depreciation expense on the plane using the units-of-production method, calculate the depreciation expense per unit. Select the formula, then enter the amounts and calculate the depreciation expense per unit. Cost 57000000 Residual value 7000000 Useful life in units 5000000 Depreciation per unit 10 Now, select the formula, enter the amounts and calculate the company's second-year depreciation expense on the plane using the units-of-production method. Depreciation per unit 10 Current year usage 1000000 Units-of-production depreciation Requirement 1c. Compute second-year (2025) depreciation expense on the plane using the double-declining-balance method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the double-declining-balance method. Then enter the amounts and calculate the depreciation expense for the second year. Double-declining- balance depreciation Requirement 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods. Depreciation Expense-2024 Depreciation Expense-2025 Accumulated Depreciation ending balance Straight-Line Units-of-production Double-declining-balance