SF9-3 (book/static) Question Hello On January 1, 2024, Al Canadians purchased a ined airplane for $37,000,000 Air Canadians expects the plane to remain useful for five year (4,000,000 miles and to have a residual value of $5,000,000. The company expects the plane to be flown 1400.000 miles during the first year Read the requirements Requirement 1a. Computo Air Canadiann'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 amount and calculate the depreciation for the first year. Straight-line depreciation Choose from any drop-down list and then click Check Answer Check Answer Clear All 7 parts remaining Jolipi 3 of 11 (6 complete HW Score A3 81 (book/static) ay 1, 2024, Air Canadians purchased a used airplane for $37,000,000. Air Canadians expects the plane to remain useful for five years (4) Fesidual value of $5,000,000. The company expects the plane to be flown 1,400,000 miles during the first year equirements. ent 1a. Compute Air Canadians's first var depreciation expense on the plane using the straight line.method lecting the formula to cal i Requirements - Xa Then enter e depreciation for the firs 1. Compute Air Canadians'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 iny drop-down list and Clear All Che