In 2017, Barden Building Company constructed a specialized equipment at a total cost of $14,700,000 (excluding capitalized interest). It took the entire year of 2017 to construct the asset. The weighted average accumulated expenditures qualifying for capitalization of interest during 2017 were $9,800,000. The company had the following debt outstanding at December 31, 2017: 1. Avoidable interest 2. Total interest to be capitalized during 2017 3. If the equipment has a useful life of 15 years with $250,000 residual value, calculate the amount of annual depreciation on a straight- line basis beginning the year 2018 . 1:19PM