EduTech Innovations acquired an online education platform on 1 January 20X1 for $3,900,000 with an estimated residual value of $390,000 and an estimated useful life of 15 years. The company uses the straight-line depreciation method. Due to changes in the online education market, the company now forecasts the following net cash inflows: $550,000 on 31 December 20X3, $450,000 on 31 December 20X4, and $400,000 on 31 December 20X5. The present values of $1 at the end of each year, using a discount rate of 6%, are: 0.94 for year 1, 0.89 for year 2, and 0.84 for year 3. Required: Calculate the annual depreciation expense and the carrying amount of the platform as of 31 December 20X3. Using the revised net cash inflows and present values, calculate the recoverable amount of the platform.