On 31st January, 20x3, an entity began redeveloping a building previously classified as an investment property for sale in the ordinary course of business. The entity cannot measure the fair value of the investment property reliably without undue cost or effort on an ongoing basis and therefore measured it, after initial recognition, using the cost model. On 1st January, 20x3, the building had a carrying amount of 2,100,000, net of 900,000 accumulated depreciation, with remaining estimated useful life of 7 years. The journal entry to record the effect of change in use of the property include: The depreciation expense recognized for the year ended, 31st December, 20x3 is