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On January 1, the Matthews Band pays $68,000 for sound equipment. The band estimates it will use this equipment for four year

Hello, I really need help with this problem ASAP. Any help is much appreciated and I'll give a thumbs up. Thank you in advance.

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Answer #1
Depreciation for Year one 16750 =(68000-1000)/4
Cost 68000
Less: Depreciation for Year one 16750
Book value at the point of revision 51250
Remaining Depreciable cost 50250 =51250-1000
Depreciation per year for years 2 and 3 25125 =50250/2
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