On January 1, 2024, Logan Services purchased a used airplane for $52,000,000 Logan Services expeds the plane to remain uned for five years (4,000,000 miles) and have a residual value of $4,000,000. The company expects the plane to be flown 1.200,000 miles during the first year Read the requirements Requirement 1a. Compute Logan Services's first year depreciation expense on the plane uning the straight into Begin by selecting the formula to calculate the company's first-year depreciation experne on the plane using the straight line method. Then enter the amounts Straight depr Requirement Tb. Compute Logan Services's first-year depreciation expense on the plane using the onits of production mehed Breaking the first year depreciation expense on the plane using the units of production method, calculate the depreciation experne per unit. Select the formule, then Depreciation perunt 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 at candle the deprecia Next Requirements 1. Compute Logan Services's first-year depreciation expense on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Show the airplane's book value at the end of the first year for all three methods. - X