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S-F:9-4 Computing second-year depreciation and accumblated depreciation (Leaning Objective 2) On January 1, 2024, Advanced...

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S-F:9-4 Computing second-year depreciation and accumblated depreciation (Leaning Objective 2) On January 1, 2024, Advanced Airline purchased a used airplane at a coet of $60,500,000. Advanced Airline expects the plane to remain useful for eight years (5,000,000 miles) and to have a residual value of $5,500,000. Advanced Airline expects the plane to be flown 1,100,000 miles the first. year and 1,200,000 miles the second year. Requirements 1. Compute second-year (2025) depreciation expense on the plane using the following methods: a. Straight-line b. Units-of-production c. Double-declining-balance 2. Calculate the balance in Accumulated Depreciation at the end of the second year for all three methods

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