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Sheffield Corp.constructed a building at a cost of $14650000. Weighted-average accumulated expenditures were $5540000, actual interest was $558000, and avoidable interest was $290000. If the

Sheffield Corp.constructed a building at a cost of $14650000. Weighted-average accumulated expenditures were $5540000, actual interest was $558000, and avoidable interest was $290000. If the salvage value is $1090000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is:

$353,500.

$484,750.

$373,500.

$346,250.

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