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26 (4 points) AirGo Airlines purchased a jet from Boeing on 01/01/2016 for $55,000,000. AirGo...

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26 (4 points) AirGo Airlines purchased a jet from Boeing on 01/01/2016 for $55,000,000. AirGo expected the jet to fly 500,000,000 miles during its 10-year life, after which the salvage value is expected to be zero. AirGo decided to use the units of production method of computing depreciation on the jet. The plane traveled 50,000,000 miles in 2016, 60,000,000 miles in 2017. 90,000,000 miles in 2018, 140,000,000 miles in 2019, and 100,000,000 miles in 2020. If the plane travels 80,000,000 miles in 2021, what will be the depreciation expense for 20212 a. b. C d. $6,600,000 $8,800,000 $5,500,000 Insufficient information is furnished to calculate 2021 depreciation expense. 27. (2 points) Which of the following intangible assets is not amortized? a. b. C d. Patents Franchises Trademarks Goodwill 28. (2 points) Danial Company purchased a used machine for $23,000. Required installation costs were $5,000, and insurance while in transit was $1,000. What amount should Danial record for machine? a. b. c. d. $28,000 $29,000 $24,000 $23,000

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