S7-4 (similar to Question Help Assume that at the beginning of 2015 Logan Service purchased a used Jumbo 747 aircraft at a cost of $54,500,000 Logan Service expects the plane to remain useful for five years (7,000,000 miles) and to have a residual value of $4,500,000. Logan Service expects to fy the plane 925,000 miles the first year, 1,250,000 miles each yearduing the second, third, and fourth years, and 2,325,000 miles the last year . Compute Logan Service's depreciation for the first two years on the plane using the following methods a. Straight-line method b. Units-of-production method (round depreciation per mile to the closest cent) c. Double-declining-balance method ot r 2. Show the airplane's book value at the end of the first year under each depreciation method 1. Compute Logan Service's depreciation for the first two years on the plane using the straight-line method, the units-of production method, and the double-declining ncur balance method llatio a Straight-ne method Using the straight-line method, depreciation is S ]for 2016 for 2015 and S chine