One year depreciation
Airline purchased used airplane for $29,500,000. Airline expects plane to remain useful for five years (4,000,000) and have residual value of $5,500,000. Airplane is expected to be flown 1,100,000 miles the first year.
Compute the airplane's first year depreciation by the following:
a. Straight line
b. Units of production
c. Double declining balance
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