Part 1 of 8 Score: 61.32%, 3.07 of 5 points Points: 0.14 of 1 Save On January 1, 2024, Questor Airlines purchased a used airplane for $76,500,000. Questor Airlines expects the plane to remain useful for four years (6,000,000 miles) and to have a residual value of $4,500,000. The company expects the plane to be flown 1,600,000 miles during the first year. Read the requirements Requirement ta. Compute Questor Airlines'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 Requirements 1. Compute Questor Airlines's first-year depreciation expense on the plane using the following methods: a. Straight-line b. Units-of-production C. Double-declining-balance 2. Show the airplane's book value at the end of the first year for all three methods. Print Done