A company buys an oil rig for $2500000 on January 1, 2018. The life of the rig is 10 years and the expected cost to dismantle the rig at the end of 10 years is $608000 (present value at 11% is $214130). 11% is an appropriate interest rate for this company. What expense should be recorded for 2018 as a result of these events?