On 1 January 1984, Mark purchased a block of land for $2,600,000 to erect a factory. After receiving several quotations, Mark signed a contract on 10 January 1989 with Rapid Builders Ltd to construct the factory at a cost of $3,100,000. However, because of financial difficulties with Mark's business, the factory (land and building) was sold on 30 August 2023 for $7,700,000.

REQUIRED:

Calculate and state the amount of Building write-off for the year ended 30 June 2024.