Marjorie Corporation acquired a building on January 1, 2016, for $800,000. The building had an estimated useful life of 20 years and an estimated residual value of $40,000. On January 1, 2019, Marjorie Corporation determined that the building could only be used for a total of 11 years and there would be no residual value. Compute depreciation expense for the year ending December 31, 2019, if Marjorie Corporation uses straight-line depreciation. Answer: $