A building is acquired on January 1, at a cost of $870,000 with an estimated useful life of 8 years and salvage value of $78,300 Compute depreciation expense for the first three years using the double declining balance method. (Round your answers to the nearest dollar.) End of Period Depreciation for the Period Beginning of Depreciation Depreciation Period Book Value Rate(%) Expense Annual Period Accumulated Depreciation Book Value First Year Second Year Third Year On January 1, the Matthews Band pays $67,800 for sound equipment. The band estimates it will use this equipment for five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During the first year, the band performs 55 concerts. Compute the first year depreciation using the units of production method. Select formula for the depreciation rate of Units of Production: Calculate the first year depreciation expense Depreciation per concert Concerts in first year Depreciation in first year