QS 8-4 Units-of-production depreciation LO P1 On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $69,000. The band estimates it will use this equipment for 5 years, during which time it anticipates performing about 200 concerts. It estimates that after five years it can sell the equipment for $2,000. During year 2015, the band performs 55 concerts Compute the year 2015 depreciation using the units-of-production method Select formula for the depreciation rate of Units of Production: Calculate 2015 depreciation expense: Depreciation per concert Concerts in 2015 Depreciation in 2015