On January 2, 2008, the Cerritos Band acquires sound equipment for concert performances at a cost of

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On January 2, 2008, the Cerritos Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2,000.

During year 2008, the band performs 45 concerts. Compute the year 2008 depreciation using the

(1) straight-line method and (2) units-of-production method.

AppendixLO1

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