January 1, the Matthews Band pays $65,200 for sound equipment. The band estimates it will use this equip e years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. Dur ar, the band performs 45 concerts. ompute the first-year depreciation using the straight-line method. Answer is complete but not entirely correct. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense S 900 X Cost minus salvage Estimated useful life (years) 4,500 5 On January 1, the Matthews Band pays $65,200 for sound equipment. The band estimates it will use this equ five years and perform 200 concerts. It estimates that after five years it can sell the equipment for $2,000. Du year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method