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Discuss depreciation using the straight-line method

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On January 2, 2015, the Matthews Band acquires sound equipment for concert performances at a cost of $68,000. The band estimates it will use this equipment for 4 years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $1,000. During year 2015, the band performs 45 concerts.

Compute the year 2015 depreciation using the straight-line method.

Reference no: EM131794664

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