Monsoon company purchased a machine on July 1, 2012 for $750,000. The machine was estimated to have a useful life of 10 years with salvage value of $42,000 and uses the straight-line method to depreciate this class of equipment. During 2018, it became apparent that the machine would become uneconomical after December 31, 2020, and that the machine would have no scrap value.

What amount should be reported for Depreciation Expense as of December 31, 2018?