On January 1,2024 , Foley Airline purchased a used airplane at a cost of $37,000,000. Foley Airline expects the plane to remain useful for eight years (4,000,000 miles) and to have a residual value of $5,000,000. Foley Airline expects the plane to be flown 1,600,000 miles the first year and 1,000,000 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. 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. 1=Depreciationperunit= 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. Requirement 1c. Compute second-year (2025) depreciation expense on the plane using the double-declining-balance method. Begin by selecting the formula to calculate the company's second-year depreciation expense on the plane using the double-declining-balance method. Then enter the amounts and calculate the depreciation expense for the second year. Double-declining- Requirement 1c. Compute second-year (2025) depreciation expense on the plane using the double-declining-balance method. depreciation expense for the second year. 1. Compute second-year (2025) depreciation expense on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods