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At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $13.6 million. $10.6 million of the purchase price was allocated to the building.

At the beginning of 2022, Robotics Incorporated acquired a manufacturing facility for $13.6 million. $10.6 million of the purchase price was allocated to the building. Depreciation for 2022 and 2023 was calculated using the straight-line method, a 25-year useful life, and a $2.6 million residual value. In 2024, the estimates of useful life and residual value were changed to 20 total years and $660,000, respectively.

What is depreciation on the building for 2024?

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