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On January? 1, 2018 Foley Airlines purchased a used airplane for $49,500,000.

Foley Airlines expects the plane to remain useful for five years (5,000,000 ?miles) and to have a residual value of $4,500,000.

The company expects the plane to be flown 1,200,000 miles the first year.

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Requirement 1a. Compute Foley Airlines?'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 amounts and calculate the depreciation for the first year.

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Requirement 1b. Compute

Foley Airlines?'s

?first-year depreciation expense on the plane using the? units-of-production method.

Before calculating the? first-year depreciation expense on the plane using the? units-of-production method, calculate the depreciation expense per unit. Select the? formula, then enter the amounts and calculate the depreciation per unit.

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Depreciation per unit

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?Now, select the? formula, enter the? amounts, and calculate the? company's first-year depreciation expense on the plane using the? units-of-production method.

	x		=	Units-of-production depreciation
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Requirement 1c. Compute

Foley AirlinesFoley Airlines?'s

?first-year depreciation expense on the plane using the? double-declining-balance method.

Begin by selecting the formula to calculate the? company's first-year depreciation expense on the plane using the? double-declining-balance method. Then enter the amounts and calculate the depreciation expense for the first year.? (Enter "0" for items with a zero? value.)

Double

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