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On January 1, the Matthews Band pays $69,000 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. Compute the first-year depreciation using the straight-line method.

Respuesta :

$13,400 is the first-year depreciation using the straight-line method.

Step 1

cost = $69,000

savage = $2,000

cost minus savage = $69,000 -- $2,000

⇒$67,000  

⇒Estimated years = 5years  

using the straight-line method formula.

Step 2          

⇒first-year depreciation expense = $67,000 /5

⇒$13,400

thus, the depreciation using the straight-line method is $13,400

learn more about depreciation here https://brainly.com/question/25806993

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