On January 1, 2024, Texas Aero purchased a used airplane at a cost of $48,000,000. Texas Aero expects the plane to remain useful for eight years (6,000,000 miles) and to have a residual value of $6,000,000. Texas Aero 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 Requirement 1b. Compute second-year (2025) depreciation expense on the plane using the units-of-production method. Before calculating the second-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 expense per unit. Depreciation per unit 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. X Units-of-production depreciation