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At the beginning of 2016, Robotics Inc. acquired a manufacturing facility for $9 million. Depreciation for 2016 and 2017 was calculated using the straight-line method,
At the beginning of 2016, Robotics Inc. acquired a manufacturing facility for $9 million. Depreciation for 2016 and 2017 was calculated using the straight-line method, a 25-year useful life, and a $1 million residual value. At the beginning of 2018, the estimates of useful life and residual value were changed to 20 total years and $500,000, respectively. What is depreciation on the building for 2018?
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