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At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $13.6 million. $10.6 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015 was calculated using the straight-line method, a 25-year useful life, and a $2.6 million residual value. In 2016, the estimates of useful life and residual value were changed to 20 years and $660,000, respectively. What is depreciation on the building for 2016? (Enter your answer in whole dollars.)

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Financial Management, Finance

Category:- Financial Management
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