5 Simulation Five 3 Saved 3.75 oints On January 1, the Matthews Band pays $66,000 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. 02:56:48 eBook Choose Numerator: Hint Cost Beginning book value References Cost minus salvage Straight-Line Depreciation Choose Denominator: Annual Depreciation Expense = Depreciation expense = 3 8.75 points 02:56:22 eBook On January 1, the Matthews Band pays $66,000 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. Choose Numerator: Straight-Line Depreciation Choose Denominator: Annual Depreciation Expense = Depreciation expense = Hint References Double the SL rate Estimated units of production Estimated useful life (years)