Required information Use the following information for the Quick Studies below. (Algo) The foliowing informavion apples to the questions displayed bolow] On January t, the Matthews Band pays 567,800 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 setil the equipment for $2,000. During the first year, the band performs 55 concerts. QS 8.5 (Algo) Units-of-production depreciation LO P1 Compute the firstyear depreciation using the units-of-production method