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At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $13.8 million. $10.8...

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Accounting

At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $13.8 million. $10.8 million of the purchase price was allocated to the building. Depreciation for 2019 and 2020 was calculated using the straight-line method, a 20-year useful life, and a $2.8 million residual value. In 2021, the estimates of useful life and residual value were changed to 15 total years and $680,000, respectively. What is depreciation on the building for 2021? (Round answer to the nearest whole dollar.)

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