Required information [The following information applies to the questions displayed below.] On January 1, the Matthews Band pays $66,400 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. ompute the first-year depreciation using the straight-line method. Choose Numerator: Straight-Line Depreciation Choose Denominator: = Annual Depreciation Expense = Depreciation expense =