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What is depreciation on the building

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Reference no: EM131755626

Question: At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $14.0 million. $11.0 million of the purchase price was allocated to the building. Depreciation for 2014 and 2015 was calculated using the straight-line method, a 20-year useful life, and a $3.0 million residual value. In 2016, the estimates of useful life and residual value were changed to 15 years and $700,000, respectively.

What is depreciation on the building for 2016? (Enter your answer in whole dollars.)

Reference no: EM131755626

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