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On January 1. 2024, Texas Aeto purchased a used aiplane at a cost of $35,000,000. Texas Aero expects the plane to remain useful for eight years (4,000,000 miles) and to have a 1esidual value of $7,000,000. Texas Aerp expects the plane to be flown 1,500.000 miles the first year and 1,400,000 miles the second yoar Read the requitements. Requirement 1a. Compute second-year (2025) depreciation expense on the plane using the straight kne method Begin by selecting the foemiala to calculate the company's second-year depredation expente on the plane wing the straight line method. Then enter the amounts and calcilate the depreciation expense for the second year. Requirement 16. Compute aecond.year (2026) depreciason expeme on the plane using the units-of penduction muthod Bofore calculating thin second-year depredation expense on the plane using the units-of production method eakilate the depreciation expense per unit Select the formula, then enter the amounts and calculate the depreciatian expense per unit. Now, seled the formula, enter the amounts and calculate the company's second-yeat 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-decliningtalance method Begin by selocting the formila to calculate the company's second-year deprectation expense on the plane using the doublo-declining-balance method. Then enter the amounts and calculate the depreclatien expense for the second yoar Requirement 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods