On January 1, the Matthews Band pays $68,400 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the straight-line method. Straight-Line Depreciation Choose Numerator: Choose Denominator: Annual Depreciation Expense Depreciation expense = On January 1, the Matthews Band pays $69,200 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During the first year, the band performs 45 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 A building is acquired on January 1, at a cost of $860,000 with an estimated useful life of 10 years and salvage value of $77.400. Compute depreciation expense for the first three years using the double-declining-balance method. (Round your answers to the nearest dollar.) Depreciation for the Period Beginning of Annual Period Period Book Value First Year Second Year Third Year Depreciation Rate (%) End of Period Depreciation Expense Accumulated Depreciation Book Value On January 1, the Matthews Band pays $69,000 for sound equipment. The band estimates it will use this equipment for five years and after five years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that this equipment will last only a total of three years. The salvage value is not changed. Compute the revised depreciation for both the second and third years. Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3