Compute its first-year depreciation on the plane using the following methods.

Show the airplane's carrying amount at the end of the first year under each depreciation method.

Assume that at the beginning of 2017, Foley Air purchased a Bombardier Q400 aircraft at a cost of $29,000,000. Foley expects the plane to remain useful for five years (4,400,000 km) and to have a residual value of $4,750,000. Foley expects the plane to be flown 850,000 km the first year, 1,050,000 km each year during years 2 through 4, and 400,000 km the last year. 1. Compute Foley'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. Requirement 1. Compute Foley's first-year depreciation on the plane. a. Using the straight-line method, depreciation is $. b. Using the units-of-production method, depreciation is $ . (Hold all decimals during interim calculations. Round the final solution to the nearest whole number.) c. Using the double-diminishing-balance method, depreciation is $. Requirement 2. Show the airplane's carrying amount at the end of the first year under each depreciation method. (Use parentheses or a minus sign when subtracting numbers.) Units-of- Double-Declining- Carrying amount: Straight-Line Production Balance Cost Less: Accumulated depreciation Carrying amount