Broadway Ltd. purchased equipment on January 1, 2014, for $940,000, estimating a 5-year useful life and no residual value. In 2014 and 2015, Broadway depreciated the asset using the straight-line method. In 2016, Broadway changed to sum-of-years'-digits depreciation for this equipment. What depreciation would Broadway record for the year 2016 on this equipment? (Do not round your depreciation rate.)

Multiple Choice

• $188,000.

• $282,000.

• $141,000.

• $376,000.