On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,800. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000.

Check 3 QS 10-5 Computing revised depreciation LO C2 On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $66,800. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $1,000. Matthews B uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment wil last only a total of three years. The salvage value remains unchanged 08 oints Compute the revised depreciation for both the second and third years eBook Book value at point of revision Remaining depreciable cost Depreciation per year for years 2 and 3