S9-3 Computing first-year depreciation and book value

On January 1, 2018, Air Canadians purchased a used airplane for $37,000,000. Air Canadians expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $5,000,000. The company expects the plane to be flown 1,400,000 miles during the first year.

Requirements

1. Show the airplanes book value at the end of the first year for all three methods.