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Assume that at the beginning of 2020, Jet Blue purchased a Bombardier Q400 aircraft at a cost of $22,000,000. Jet Blue expects the plane to remain useful for five years (5,625,000 km) and to have a residual value of $5,500,000. Jet Blue expects the plane to be flown 775,000 km the first year, 1,400,000 km each year during years 2 through 4, and 650,000 km the last year. 1. Compute Jet Blue's first-year depreciation on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-diminishing-balance 2. Show the airplane's carrying amount at the end of the first year under each depreciation method. Which method results in the highest carrying amount? Which method produces the lowest carrying amount? Briefly explain why. D. Using the units-ot-production method, depreciation is $2273333). (Hold all decimais during interim calculations. Round the tinai solution to the nearest wnole number.) c. Using the double-diminishing-balance method, depreciation is $ 8800000. (Hold all decimals during interim calculations. Round the final solution to the nearest whole number.) Requirement 2. Show the airplane's carrying amount at the end of the first year under each depreciation method. Which method results in the highest carrying amount? Which method produces the lowest carrying amount? Briefly explain why. (Use parentheses or a minus sign when subtracting numbers.) Units-of- Double-Diminishing Carrying amount: Straight-Line Production Balance Cost 22000000 22000000 22000000 3300000 2273333 8800000 Less: Accumulated depreciation Carrying amount Units-of-production results in the highest carrying amount and will vary depending on the use of the asset. The double-diminishing-balance method results in the lowest carrying amount since it writes off a larger amount of the asset's cost near the start of its useful life