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Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,500,000 on January 1,2025.
Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $3,500,000 on January 1,2025. Swifty expected to complete the building by December 31.2025 . Swifty has the following debt obligations outstanding during the construction period. Compute the depreciation expense for the year ended December 31,2026 . Swifty elected to depreciate the building on a straight-line basis and determined that the asset has a usefullife of 30 vears and a salvage value of $210,000, (Round answer to 0 decimalplaces, es 5,275) Depreciation expense
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