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At the beginning of 2016, Robotics Inc. acquired a manufacturing facility for $12.1 million. $9.1 million of the purchase price was allocated to the building.
At the beginning of 2016, Robotics Inc. acquired a manufacturing facility for $12.1 million. $9.1 million of the purchase price was allocated to the building. Depreciation for 2016 and 2017 was calculated using the straight-line method, a 20-year useful life, and a $1.1 million residual value. In 2018, the estimates of useful life and residual value were changed to 15 years and $510,000, respectively.
What is depreciation on the building for 2018?
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