Q10 Company acquired a long-lived asset on January 1, Year 1. Information regarding the asset is as follows.

Acquisition cost	$6,600
Residual value	$600
Estimated useful life, in years	5

Company uses the sum-of-the-years-digits depreciation method.

On January 1, Year 3, management revised their estimates such that the estimated useful life would be 6 years and the residual value would be $300.

Determine the depreciation expense for Year 3.

Note: Give your answer using dollar signs and commas but no decimal points (cents).

Example: $12,345