On Jan. 1, 2019 Spitfire Airlines buys a new Boeing 737 aircraft for $ 50,000,000. It is expected to last 15 years and fly 50,000 hours. At the end of its useful life, Spitfire expects to sell the aircraft for $2,000,000. In 2019 the aircraft flies for 3,800 hours.
a. What is the 2019 depreciation, assuming straight line depreciation is used?
b. What is the 2019 depreciation, assuming units of production depreciation is used?
c. Suppose that straight line depreciation is used. On Jan. 1, 2021, the airline decides that the total useful life will be 20
years (including the years already used). What is the straight linedepreciation for 2021?
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