View Policies Current Attempt In Progress In August 2020, Heavy-lift Helicopters Ltd. purchased a new helicopter for its logging and heavy lift operations at a cost of $0.968 million. Based on past experience management has determined that the helicopter will have a useful life of 12,800 flying hours, at which time it will have an estimated residual value of $ 200,000. During 2020, the helicopter was used for 1.280 flying hours, and in 2021 it was used for 1,580 flying hours. Heavy-lift Helicopters has a December 31 year end and uses the units-of-production method of depreciation for its helicopters. Determine the depreciation expense on this helicopter for 2021 and its carrying amount at December 31, 2021. 2021 Depreciation expense $ Carrying amount $