A factory that produces hats is for sale for $755,000. An investor is considering accepting this asking price and holding the factory for a few years before selling it. If the depreciable life of the factory is 35 years and 21% of the purchase price is land, what would be the depreciation allowance each year for tax purposes?

Increase the decimals to 6 or higher for any intermediate calculations. Round your final answer to 2 decimal places. Don't use the $ sign.