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Compute revised depreciation for both second and third years

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Question - Computing revised depreciation

On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $2,000. Matthews Band uses straight-line depreciation but realizes at the start of the second year that due to concert bookings beyond expectations, this equipment will last only a total of three years. The salvage value remains unchanged.

Compute the revised depreciation for both the second and third years.

Reference no: EM132158289

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