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At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $12.3 million. $9.3 million of the purchase price was allocated to the building.
At the beginning of 2019, Robotics Inc. acquired a manufacturing facility for $12.3 million. $9.3 million of the purchase price was allocated to the building. Depreciation for 2019 and 2020 was calculated using the straight-line method, a 20-year useful life, and a $1.3 million residual value. In 2021, the company switched to the double-declining-balance depreciation method. What is depreciation on the building for 2021 using the double-declining balance depreciation method?
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