On January 1st, 2024, Dallas Airlines purchased a used airplane for $50,500,000. The company expects the plane to remain useful for four years and 4,000,000 without overhaul. The plane is estimated to have a residual value of $6,500,000 and is expected to be flown for 1,500,000 miles the first year.

1. What is the first year depreciation using the straight line method? 2. What is the first year depreciation using the Units of Production method? 3. (BONUS - 4 points) What is the first year depreciation using the double-declining method? 4. (BONUS - up to 5 points) Which of these methods look most reasonable to you? Why?