Questions: S7-8 E7-15A S7-8. (Learning Objectives 3, 4: Computing partial year depreciation; selecting the best depreciation method) Assume that on September 30, 20X6, LoganAir, the national airline of Switzerland, purchased an Airbus aircraft at a cost of 48,000,000. LoganAir expects the plane to remain useful for six years (4,500,000 miles) and to have a residual value of 6,000,000. LoganAir will fly the plane 420,000 miles during the remainder of 20X6. Compute LoganAir's depreciation on the plane for the year ended December 31, 20X6, using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance Which method would produce the highest net income for 20X6? Which method produces the lowest net income? E7-15A. (Learning Objective 1: Determining the cost of PPE) Ariana Self Storage pur- chased land, paying $185,000 cash as a downpayment and signing a $200,000 note payable for the balance. Ariana also had to pay delinquent property tax of $4,500, title insurance costing $3,000, and $10,000 to level the land and remove an unwanted building. The company paid $63,000 to add soil for the foundation and then constructed an office building at a cost of $640,000. It also paid $57,000 for a fence around the property, $15,000 for the company sign near the property entrance, and $9,000 for lighting of the grounds. Determine the cost of Ariana's land, land improvements, and building