Question 44 9 pts A new company has the following three transactions during the year. Jan 1: Issues common stock to investors for $540,000 Feb 15: Purchases inventory valued at $45,800, on account. July 1: Purchases equipment for $271,000 cash. The equipment is expected to last 20 years and have no salvage value. No other transactions take place. If adjusting entries are made at the end of the year, how much depreciation expense would be recorded for the year? (Round answer to the nearest dollar)