On January 1, the Matthews Band pays $69,200 for sound equipment. The band estimates it will use this equipment for four 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 years and 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