At the beginning of 2014, Robotics Inc. acquired a manufacturing facility for $12.3 million. $9.3 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 $1.3 million residual value. Assume that 2014 depreciation was incorrectly recorded as $40,000. This error was discovered in 2016.

What is depreciation on the building for 2016