On January 1, 2019, Pail Corporation acquired 60 percent of Sand Company's common stock for $420,000 cash. The fair value of the noncontrolling interest at that date was determined to be $280,000. At the date of the business combination, the book values of Sand's net assets and liabilities approximated fair value except for depreciable plant assets, which were OVERvalued by $2000 and Inventory, which was UNDERvalued by $4000 The remaining useful life of the plant assets was set at 10 years. For the year ended December 31, 2019, Pail reported Depreciation Expense of $12000 on its general ledger. Sand reported Depreciation Expense of $5000 on its general ledger. What amount of DEPRECIATION EXPENSE should be reported on the 12/31/19 consolidated Income Statement? LAR SIGNS. FOR