Swifty Furniture Company started construction of a combination office and warehouse building for its own use at an estimated cost of $5,021,600 on January 1, 2017. Swifty expected to complete the building by December 31, 2017. Swifty has the following debt obligations outstanding during the construction period.

Construction loan-10% interest, payable semiannually, issued December 31, 2016		$1,995,500
Short-term loan-8% interest, payable monthly, and principal payable at maturity on May 30, 2018		1,590,200
Long-term loan-9% interest, payable on January 1 of each year. Principal payable on January 1, 2021		1,008,400

Compute the depreciation expense for the year ended December 31, 2018. Swifty elected to depreciate the building on a straight-line basis and determined that the asset has a useful life of 30 years and a salvage value of $297,700. (Round answer to 0 decimal places, e.g. 5,275.)

Depreciation Expense