Outlaws is a general goods retail chain in the High Plains region. Outlaws is forecasting its financial statements for Year 3. Selected financial information for Years 1 and 2 is provided in the table. In Year 3 Outlaws is planning to invest $300 million in CAPEX. The average depreciation rate is 6%. What is the forecasted depreciation expense in Year 3?

Looking for the process work to find the solution of $596.

Selected Financial Information Outlaws Inc. ($ millions) Year 1 Year 2 PP&E 9,372 9,637 Depreciation 621 CAPEX 886 mo $560 $655 *$596 $531 $578 Selected Financial Information Outlaws Inc. ($ millions) Year 1 Year 2 PP&E 9,372 9,637 Depreciation 621 CAPEX 886 mo $560 $655 *$596 $531 $578