On January 1, 2020, the Accumulated DepreciationMachinery account of a particular company showed a balance of $1460000. At the end of 2020, after the adjusting entries were posted, it showed a balance of $1560000. During 2020, one of the machines which cost $520000 was sold for $243000 cash. This resulted in a loss of $17400. Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2020?