Cullumber Ltd. completed construction of an office building for 2,230,000 on December 31, 2024. The company estimated that the building would have a residual value of 0 and a useful life of 40 years. A more detailed review of the expenditures related to the building indicates that 312,000 of the total cost was used for personal property and 168,000 for land improvements. The personal property has a depreciable life of 5 years and land improvements have a depreciable life of 10 years. Compute depreciation expense for 2025 using component depreciation and the straight-line method. Depreciation expense