On January 1,2024 , Alaska Freight Airlines purchased a used airplane for $72,500,000. Alaska Freight Airlines expects the plane to remain useful for four years (6,000,000 miles) and to have a residual value of $6,500,000. The company expects the plane to be flown 1,200,000 miles during the first year. Read the requirements. Requirement 1b. Compute Alaska Freight Airlines's first-year depreciation expense on the plane using the units-of-production method. Before calculating the first-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 per unit. 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