Biscayne Corp had a credit balance of $540,000 in its allowance for uncollectible accounts as of January 1, 2023. Based on experience, 3% of Biscayne Corp's gross accounts receivable have been uncollectible. During 2023, Biscayne Corp wrote off $670,000 of accounts receivable. Biscayne Corp's gross accounts receivable as December 31, 2023 is $19,000,000. Calculate Biscayne Corp's bad debt expense for 2023.