On January$1,20202020,$ Quick TravelQuick Travel Transportation Company purchased a used aircraft at a cost of $ $44$ comma $400$ comma $000$$$44,400,000.$ Quick TravelQuick Travel expects the plane to remain useful for fivefive years $(6$ comma $500$ comma $0006,500,000$miles$)$ and to have a residual value of $ $4$ comma $400$ comma $000$$$4,400,000.$ Quick TravelQuick Travel expects to fly the plane $825$ comma $000825,000$ miles the first$$ year, $1$ comma $200$ comma $0001,200,000$ miles each year during the$$ second, third, and fourth$$ years, and $2$ comma $075$ comma $0002,075,000$ miles the last year.

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Part $1$

$1.$ Compute Quick TravelQuick Travel$\text{'}$s depreciation for the first two years on the plane using the$$ straight$-$line method, the$$ units$-$of$-$production method, and the$$ double$-$declining balance method.

a$.$ Straight$-$line method

Using the straight$-$line method, depreciation is

for $2020$ and

for $2021.$

Part $2$

b$.$ Units$-$of$-$production method $($Round the depreciation per unit of output to two decimal places to compute your final$$ answers.$)$

Using the units$-$of$-$production method, depreciation is

for $2020$ and

for $2021.$

Part $3$

c$.$ Double$-$declining balance method

Using the double$-$declining$-$balance method, depreciation is

for $2020$ and

for $2021.$

Part $4$

$2.$ Show the$$ airplane's book value at the end of the first year under each method.

Units$-$of$-$

Double$-$Declining$-$

Book Value:

Straight$-$Line

Production

Balance

Less:

Book Value