On January 1, 2024. Questor Airlines purchased a used airplane for $58,000,000. Questor Airlines expects the plane to remain useful for four years (8,000,000 miles) and to 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 Questor 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-dine method. Then enter the amounts and calculate the depreciation for the first year. - Straight-line depreciation list then click Check Answer Requirements 1. Compute Questor Airlines'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. Print Done