$!$

Required information

Use the following information for the Quick Studies below. $($Algo$)$

$[$The following information applies to the questions displayed below.$]$

On January $1,$ the Matthews Band pays $$68,600$ for sound equipment. The band estimates it will use this equipment for five years and perform $200$ concerts. It estimates that after five years it can sell the equipment for $$2,000.$ During the first year, the band performs $55$ concerts.

QS $8-5($Algo$)$ Units$-$of$-$production depreciation LO P$1$

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:

$\backslash$table$[[$Depreciation per concert,$],[$Concerts in first year,$],[$Depreciation in first year,$]]$