On January 1, 2024, Texas Aeros purchased a used airplane for $45,600,000. Texas Aeros expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $5,600,000. The company expects the plane to be flown 1,300,000 miles during the first year. Read the requirements. D Requirement 1a. Compute Texas Aeros'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. P Straight-line depreciation

On January 1, 2024, Texas Aeros purchased a used airplane for $45,600,000. Texas Aeros expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $5,600,000. The company expects the plane to be flown 1,300,000 miles during the first year. Read the requirements. Requirement 1a. Compute Texas Aeros'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. Straight-line = depreciation