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Luke Co. has several assets that it depreciates using one accumulated depreciation account. During 2020, Luke Co. sold one asset and provided the following information:

Luke Co. has several assets that it depreciates using one accumulated depreciation account. During 2020, Luke Co. sold one asset and provided the following information:

Item Amount
Beginning balance accumulated depreciation $638,000
Ending balance accumulated depreciation $910,000
Accumulated depreciation of sold asset $68,000

How much was depreciation expense for 2020?

$272,000

$68,000

$340,000

$204,000

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