On January 1, 2024, Austin Airline purchased a used airplane at a cost of $33,000,000. Austin Airline expects the plane to remain useful for eight years (4,000,000 miles) and to have a residual value of $5,000,000. Austin Airline expects the plane to be flown 1,600,000 miles the first year and 1,300,000 miles the second year. Read the requirements. 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 Current year usage = Units-of-production depreciation $ 9,100,000 $ 7 1,300,000 = 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. Cost Accumulated depreciation = ( ( $ ) * ) 2 *(1 + Useful life) 2 (1 + 8) Double-declining- balance depreciation $ 6,187,500 33,000,000 $ 8,250,000 = Requirement 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods. Straight-Line Units-of-production Double-declining-balance Depreciation Expense - 2024 Depreciation Expense - 2025 Accumulated Depreciation ending balance