On January 1, 2016, Lake Co. purchased a machine for $1,980,000 and depreciated it by the straight-line method using an estimated useful life of eight years with no salvage value. On January 1, 2019, Lake determined that the machine had a useful life of six years from the date of acquisition and will have a salvage value of $180,000. An accounting change was made in 2019 to reflect these additional data.

10. The accumulated depreciation for this machine should have a balance at December 31, 2019 of $??