On January 1, 2020, Pail Corporation acquired 70 percent of Sand Company's common stock for $630,000 cash. The fair value of the noncontrolling interest at that date was determined to be $270,000. 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 $6500 and Inventory, which was UNDERvalued by $3500 The remaining useful life of the plant assets was set at 5 years. For the year ended December 31, 2020, Pail reported Depreciation Expense of $8000 on its general ledger. Sand reported Depreciation Expense of $16000 on its general ledger. What amount of Depreciation Expense should be reported on the 12/31/20 consolidated Income Statement