I did the calculation for the end of year depreciation for a building purchase but the amount I submit keeps coming up wrong. The statement is:

On January 1, Tolson Company purchased a building by paying $85,000. The building has an estimated life of 40 years and an estimated residual value of $5,000.

so I did my first of the year entry. building acct debit $85000 and cash credit $ 85000 acct decrease which is correct but the end of year is calculated:

$85000- salvage amt $ 5000= $ 80000/40 years= $2000.00/12 months of the year = $ 166.6666667 which I round to the nearest cent $ 166.67.

statement reads:

Dec 31 Accumulated Depreciation debit $ 166.67 Depreciation Expense credit $ 166.67

My $ 166.67 comes up wrong. What am I doing wrong?