Red Corporation constructed a machine at a total cost of $56 million. Construction was completed at the end of 2020 and the machine was placed in service at the beginning of 2021 . The machine was being depreciated over a 8-year life using the straight-line method. The residual value is expected to be $4 million. At the beginning of 2024 , Red decided to change to the sum-of-the-years'-digits method. Ignoring income taxes, what will be Red's depreciation expense for 2024? Note: Do not round intermediate calculations. Round final answer to 2 decimal places