Question: answers only and book value please make it clear On January 1, 2017, Speedy Delivery Transportation Company purchased a used aircraft at a cost of

answers only and book value please make it clear
answers only and book value please make it clear On January 1,
2017, Speedy Delivery Transportation Company purchased a used aircraft at a cost

On January 1, 2017, Speedy Delivery Transportation Company purchased a used aircraft at a cost of $51,400,000. Speedy Dolivery expects the plane to remain useful for fire years (6,800,000 miles) and to have a residual value of $5,400,000. Speedy Delivery expects to ffy the plane 825,000 miles the frat year, 1,200,000 miles each year during the second, third, and fourth years, and 2,375,000 miles the last year. Read the requitements. Requirements 1. Compute Speedy Delivery'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 2. Show the airplane's book value at the end of the first year under each depreciation method

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