On January 1, 2024, Austin Airlines purchased a used airplane for $40,000,000. Austin Airlines expects the plane to remain useful for four years (6,000,000 miles) and to have a residual value of $4,000,000. The company expects the plane to be flown 1,300,000 miles during the first year. Read the requirements. Requirement 1a. Compute Austin Airlines's first-year depreciation expense on the plane using the straight-line method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using the straight-line method. Then enter the amounts and calculate the depreciation for the first year. 1+ = Straight-line depreciation Requirement 1b. Compute Austin Airlines's first-year depreciation expense on the plane using the units-of-production method. Before calculating the first-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 per unit. = Depreciation per unit 1 = Now, select the formula, enter the amounts, and calculate the company's first-year depreciation expense on the plane using the units-of-production method. * Units-of-production depreciation = Requirement 1c. Compute Austin Airlines's first-year depreciation expense on the plane using the double-declining-balance method. Begin by selecting the formula to calculate the company's first-year depreciation expense on the plane using the double-declining-balance method. Then enter the amounts and calculate the depreciation expense for the first year. (Enter "D" for Items with a zero value.) Double-declining- = balance depreciation