Compute partial year depreciation, and select the best depreciation method) Assume that on September 30, 2011, Grandair, the national airline of Germany, purchased a Jumbo aircraft at a cost of €41,000,000 (€ is the symbol for the euro). Grandair expects the plane to remain useful for five years (5,200,000 miles) and to have a residual value of €5,200,000. Grandair will fly the plane 390,000 miles during the remainder of 2011. Compute Grandair's depreciation on the plane for the year ended December 31, 2011, using the following methods:
a. Straight-line
b. Units-of-production
c. Double-declining-balance
Which method would produce the highest net income for 2011? Which method produces the lowest net income?