On January 1,2024 , Air Asias purchased a used airplane for $42,000,000. Air Asias expects the plane to remain useful for four years (4,000,000 miles) and to have a residual value of $6,000,000. The company expects the plane to be flown 1,600,000 miles during the first year. Read the requirements. Requirement 1a. Compute Air Asias'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 depreciatio