On January 1, 2024, Austin Airline purchased a used airplane at a cost of $67,000,000. Austin Airline expects the plane to remain useful for eight years (6,000,000 miles) and to have a residual value of $7,000,000. Austin Akline expects the plane to be flown 1,400,000 miles the first year and 1,500,000 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. Straight line depreciation - X Requirements 1. Compute second-year (2025) depreciation expense on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods. igh ep Print Done